Apple Inc. (NASDAQ:AAPL) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 675,158 shares of the iPhone maker’s stock after selling 24,869 shares during the period. Apple comprises 6.5% of Logan Capital Management Inc.’s holdings, making the stock its largest position. Logan Capital Management Inc.’s holdings in Apple were worth $157,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bull Oak Capital LLC increased its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter valued at $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the 3rd quarter worth about $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter worth about $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $244.60 on Friday. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth 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 business has a 50-day moving average of $240.70 and a 200 day moving average of $231.59. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted 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%. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Sanford C. Bernstein boosted their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Moffett Nathanson reiterated a “sell” rating and set a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Bank of America raised their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Evercore ISI upped their target price on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price 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.