Headinvest LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

Headinvest LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,805 shares of the iPhone maker’s stock after selling 621 shares during the quarter. Apple comprises approximately 1.6% of Headinvest LLC’s portfolio, making the stock its 16th biggest holding. Headinvest LLC’s holdings in Apple were worth $8,809,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AAPL. High Net Worth Advisory Group LLC increased its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Amara Financial LLC. purchased a new stake in Apple during the 3rd quarter worth about $288,000. Granite Investment Partners LLC boosted its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp boosted its stake in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC lifted its stake in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 2.2 %

Shares of Apple stock opened at $232.62 on Wednesday. The stock has a 50-day moving average price of $241.02 and a 200 day moving average price of $231.20. The company has a market cap of $3.49 trillion, a P/E ratio of 36.92, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping 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%. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Insider Activity

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

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on Apple from $280.00 to $294.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Sanford C. Bernstein upped their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Finally, UBS Group reissued a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $242.52.

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.