Cora Capital Advisors LLC Sells 293 Shares of Apple Inc. (NASDAQ:AAPL)

Cora Capital Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,678 shares of the iPhone maker’s stock after selling 293 shares during the quarter. Apple makes up 4.0% of Cora Capital Advisors LLC’s portfolio, making the stock its 5th biggest holding. Cora Capital Advisors LLC’s holdings in Apple were worth $8,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth $42,000. Access Investment Management LLC acquired a new position in Apple during the first quarter worth $140,000. Hoese & Co LLP increased 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 during the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple during the second quarter worth $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.2 %

AAPL opened at $228.44 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month 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. The company has a fifty day moving average of $227.59 and a 200-day moving average of $217.47. The stock has a market cap 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.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AAPL. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. UBS Group increased their target price on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, TD Cowen increased their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $235.25.

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.