Apple Inc. (NASDAQ:AAPL) is Norman Fields Gottscho Capital Management LLC’s 3rd Largest Position

Norman Fields Gottscho Capital Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,124 shares of the iPhone maker’s stock after selling 949 shares during the period. Apple makes up about 10.9% of Norman Fields Gottscho Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Norman Fields Gottscho Capital Management LLC’s holdings in Apple were worth $32,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Swedbank AB acquired a new stake in Apple in the first quarter valued at approximately $3,026,492,000. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board grew its holdings in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Apple during the 2nd quarter worth $834,368,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.3 %

AAPL stock opened at $228.02 on Tuesday. The stock has a market cap of $3.45 trillion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The firm’s 50-day simple moving average is $227.18 and its 200 day simple moving average is $217.00. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. TD Cowen increased their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird lifted their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Raymond James upped their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,040 shares of company stock valued at $91,062,512. 0.06% of the stock is currently owned by corporate insiders.

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.