New Capital Management LP Sells 646 Shares of Apple Inc. (NASDAQ:AAPL)

New Capital Management LP lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,621 shares of the iPhone maker’s stock after selling 646 shares during the period. Apple accounts for about 6.1% of New Capital Management LP’s holdings, making the stock its 4th biggest position. New Capital Management LP’s holdings in Apple were worth $20,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Amara Financial LLC. purchased a new stake in Apple in the 3rd quarter valued at approximately $288,000. Granite Investment Partners LLC boosted its holdings in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp boosted its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC boosted its holdings in 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. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AAPL shares. 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 report on Friday, January 31st. Argus raised Apple to a “strong-buy” rating in a research note on Friday, January 31st. Morgan Stanley boosted their price target on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Thursday, January 23rd. Finally, Moffett Nathanson reissued a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Trading Down 0.1 %

AAPL stock opened at $245.55 on Friday. The company has a market cap of $3.69 trillion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.43 and a beta of 1.20. 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 business has a fifty day simple moving average of $240.47 and a 200-day simple moving average of $232.55. Apple Inc. has a 52 week low of $164.07 and a 52 week 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 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%. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.