Apple Inc. (NASDAQ:AAPL) Shares Sold by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,056 shares of the iPhone maker’s stock after selling 1,655 shares during the quarter. Apple comprises 3.2% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 6th biggest position. Eagle Rock Investment Company LLC’s holdings in Apple were worth $19,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AAPL. Fidelis Capital Partners LLC increased its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $42,000. Access Investment Management LLC purchased a new stake in shares of Apple during the 1st quarter valued at approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple in the second quarter worth approximately $206,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 0.6 %

AAPL opened at $229.87 on Friday. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The business’s 50 day moving average is $227.73 and its two-hundred day moving average is $217.81. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. On average, research 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. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, 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 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. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Rosenblatt Securities increased their target price 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. Barclays reduced their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $235.25.

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.