Adalta Capital Management LLC Sells 50 Shares of Apple Inc. (NASDAQ:AAPL)

Adalta Capital Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,740 shares of the iPhone maker’s stock after selling 50 shares during the period. Apple accounts for 0.7% of Adalta Capital Management LLC’s portfolio, making the stock its 28th largest holding. Adalta Capital Management LLC’s holdings in Apple were worth $1,337,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Abel Hall LLC grew its stake in Apple by 2.2% in the 3rd quarter. Abel Hall LLC now owns 15,848 shares of the iPhone maker’s stock valued at $3,693,000 after buying an additional 344 shares during the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Apple in the 3rd quarter valued at about $3,679,000. Raelipskie Partnership grew its stake in Apple by 8.8% in the 3rd quarter. Raelipskie Partnership now owns 24,924 shares of the iPhone maker’s stock valued at $5,807,000 after buying an additional 2,025 shares during the last quarter. Continuum Advisory LLC grew its stake in Apple by 6.5% in the 3rd quarter. Continuum Advisory LLC now owns 125,641 shares of the iPhone maker’s stock valued at $28,674,000 after buying an additional 7,641 shares during the last quarter. Finally, LRI Investments LLC grew its stake in Apple by 30.7% in the 3rd quarter. LRI Investments LLC now owns 76,638 shares of the iPhone maker’s stock valued at $17,490,000 after buying an additional 18,003 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’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 transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $236.87 on Thursday. The company has a market cap of $3.56 trillion, a price-to-earnings ratio of 37.60, a PEG ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $240.82 and a 200 day simple moving average of $231.30. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts predict that Apple Inc. will post 7.28 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. Shareholders of record on Monday, February 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday, January 31st. Evercore ISI increased their target price on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Raymond James increased their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 20th. Finally, Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple 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.