Apple Inc. (NASDAQ:AAPL) Holdings Cut by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,091 shares of the iPhone maker’s stock after selling 76 shares during the quarter. Apple makes up 3.8% of Timber Creek Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Timber Creek Capital Management LLC’s holdings in Apple were worth $13,535,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. lifted its position in Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the last quarter. Lowery Thomas LLC lifted its holdings in shares of Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Latitude Advisors LLC boosted its position in shares of Apple by 0.3% during the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock valued at $4,016,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup boosted their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. UBS Group reiterated a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Finally, Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Down 2.4 %

AAPL opened at $227.63 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a 50-day simple moving average of $241.45 and a two-hundred day simple moving average of $230.97. The company has a market capitalization of $3.42 trillion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts forecast that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.