Single Point Partners LLC Sells 230 Shares of Apple Inc. (NASDAQ:AAPL)

Single Point Partners LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,791 shares of the iPhone maker’s stock after selling 230 shares during the period. Apple comprises about 6.0% of Single Point Partners LLC’s portfolio, making the stock its 6th largest position. Single Point Partners LLC’s holdings in Apple were worth $3,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Hershey Financial Advisers LLC bought a new stake in Apple in the 2nd quarter valued at $42,000. Access Investment Management LLC bought a new stake in Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP grew its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new position in shares of Apple in the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter valued at about $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAPL. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Moffett Nathanson decreased their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $228.28 on Wednesday. The firm has a market cap of $3.45 trillion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The business’s fifty day simple moving average is $227.34 and its 200-day simple moving average is $217.31. 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 posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. Equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

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

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.