Riverbridge Partners LLC Sells 1,345 Shares of Apple Inc. (NASDAQ:AAPL)

Riverbridge Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,187 shares of the iPhone maker’s stock after selling 1,345 shares during the period. Riverbridge Partners LLC’s holdings in Apple were worth $8,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. High Net Worth Advisory Group LLC grew its stake 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 buying an additional 1,066 shares in the last quarter. Amara Financial LLC. bought a new position in shares of Apple in the third quarter worth $288,000. Truist Financial Corp boosted its holdings in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. Sterling Investment Counsel LLC grew its position in shares of Apple by 3.8% in the third 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. Finally, Silicon Valley Capital Partners raised its stake in shares of Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock opened at $209.68 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market cap of $3.15 trillion, a P/E ratio of 33.28, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The firm has a 50-day moving average of $235.12 and a 200-day moving average of $233.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AAPL shares. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Citigroup boosted their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note 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 note on Monday, January 20th. Morgan Stanley reduced their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Apple 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.