Apple Inc. (NASDAQ:AAPL) Shares Sold by Carmel Capital Management L.L.C.

Carmel Capital Management L.L.C. decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,412 shares of the iPhone maker’s stock after selling 1,435 shares during the quarter. Apple comprises approximately 5.2% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 5th biggest position. Carmel Capital Management L.L.C.’s holdings in Apple were worth $13,876,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC lifted its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. bought a new position in shares of Apple during the third quarter valued at $288,000. Truist Financial Corp lifted its holdings in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. Sterling Investment Counsel LLC lifted its holdings in Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners raised its position in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after acquiring an additional 28,799 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $213.49 on Friday. The firm has a market cap of $3.21 trillion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.44 and a beta of 1.18. The company has a 50-day simple moving average of $234.52 and a two-hundred day simple moving average of $233.77. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction 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 approximately $97,474,301.68. This 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 can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Monness Crespi & Hardt raised their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.22.

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.