Collective Family Office LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Collective Family Office LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 6.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,392 shares of the iPhone maker’s stock after selling 995 shares during the quarter. Apple makes up about 1.0% of Collective Family Office LLC’s investment portfolio, making the stock its 29th largest position. Collective Family Office LLC’s holdings in Apple were worth $3,586,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AAPL. Swedbank AB bought a new stake in Apple in the first quarter worth $3,026,492,000. Strategic Financial Concepts LLC increased its position in 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 worth $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC increased its position in Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Apple in the second quarter worth $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Citigroup boosted their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, 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. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple Stock Performance

NASDAQ AAPL opened at $228.44 on Friday. The business’s 50-day moving average price is $227.59 and its 200 day moving average price is $217.47. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a market capitalization of $3.45 trillion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. 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 (NASDAQ:AAPL) last released 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. 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 firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. On average, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 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.