Old West Investment Management LLC Sells 500 Shares of Apple Inc. (NASDAQ:AAPL)

Old West Investment Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,914 shares of the iPhone maker’s stock after selling 500 shares during the period. Apple accounts for approximately 1.2% of Old West Investment Management LLC’s portfolio, making the stock its 24th largest holding. Old West Investment Management LLC’s holdings in Apple were worth $3,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. International Assets Investment Management LLC boosted its holdings in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. State Street Corp boosted its holdings in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares during the period. FMR LLC boosted its holdings in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 1.3 %

AAPL opened at $244.60 on Friday. The company has a market cap of $3.67 trillion, a P/E ratio of 38.83, a P/E/G ratio of 2.32 and a beta of 1.20. The business’s 50-day moving average price is $240.67 and its 200-day moving average price is $231.41. 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 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s payout ratio is presently 15.87%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAPL. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. Evercore ISI raised their price target on Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Maxim Group increased their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Four equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated 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 directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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. The trade was a 21.13 % 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.

Apple Company Profile

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.