Breakwater Capital Group Has $19.84 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Breakwater Capital Group trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,155 shares of the iPhone maker’s stock after selling 816 shares during the quarter. Apple accounts for 4.0% of Breakwater Capital Group’s holdings, making the stock its largest holding. Breakwater Capital Group’s holdings in Apple were worth $19,841,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Regency Capital Management Inc. DE boosted its holdings in shares of Apple by 2.5% in the 3rd quarter. Regency Capital Management Inc. DE now owns 28,216 shares of the iPhone maker’s stock valued at $6,574,000 after buying an additional 682 shares in the last quarter. HBW Advisory Services LLC grew its holdings in shares of Apple by 5.8% during the third quarter. HBW Advisory Services LLC now owns 34,374 shares of the iPhone maker’s stock valued at $8,009,000 after buying an additional 1,876 shares during the last quarter. Chemung Canal Trust Co. grew its stake in Apple by 40.4% during the 3rd quarter. Chemung Canal Trust Co. now owns 58,152 shares of the iPhone maker’s stock valued at $13,549,000 after purchasing an additional 16,746 shares during the last quarter. MRA Advisory Group increased its holdings in Apple by 14.0% in the 3rd quarter. MRA Advisory Group now owns 22,619 shares of the iPhone maker’s stock worth $5,270,000 after buying an additional 2,771 shares during the period. Finally, Moody National Bank Trust Division increased its stake in shares of Apple by 7.5% in the third quarter. Moody National Bank Trust Division now owns 160,653 shares of the iPhone maker’s stock worth $37,432,000 after acquiring an additional 11,213 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AAPL shares. Rosenblatt Securities raised their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Moffett Nathanson reduced their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned 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 target price of $235.25.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.3 %

Apple stock opened at $229.00 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50-day moving average of $227.47 and a 200-day moving average of $217.40. The company has a market cap of $3.46 trillion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 2.20 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

About Apple

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.