Stonehearth Capital Management LLC Sells 236 Shares of Apple Inc. (NASDAQ:AAPL)

Stonehearth Capital Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,434 shares of the iPhone maker’s stock after selling 236 shares during the period. Apple accounts for 1.2% of Stonehearth Capital Management LLC’s holdings, making the stock its 18th biggest holding. Stonehearth Capital Management LLC’s holdings in Apple were worth $3,130,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Access Investment Management LLC purchased a new stake in Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP boosted its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple in the second quarter worth $206,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AAPL. Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,040 shares of company stock worth $91,062,512. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $228.02 on Tuesday. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.50, a PEG ratio of 2.20 and a beta of 1.24. The stock has a 50-day moving average of $227.18 and a 200 day moving average of $217.00. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.