Apple Inc. (NASDAQ:AAPL) Shares Sold by Ignite Planners LLC

Ignite Planners LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 11.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 71,707 shares of the iPhone maker’s stock after selling 9,524 shares during the period. Apple accounts for approximately 3.8% of Ignite Planners LLC’s portfolio, making the stock its 2nd largest holding. Ignite Planners LLC’s holdings in Apple were worth $16,708,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its stake in Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Schulhoff & Co. Inc. boosted its stake in Apple by 0.4% during the 1st quarter. Schulhoff & Co. Inc. now owns 18,925 shares of the iPhone maker’s stock valued at $3,245,000 after purchasing an additional 78 shares during the period. Palisade Asset Management LLC grew its holdings in Apple by 6.4% in the 1st quarter. Palisade Asset Management LLC now owns 242,164 shares of the iPhone maker’s stock worth $41,526,000 after buying an additional 14,585 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of Apple by 567.9% in the first quarter. Hollencrest Capital Management now owns 1,069,412 shares of the iPhone maker’s stock worth $183,383,000 after purchasing an additional 909,303 shares in the last quarter. Finally, Main Street Research LLC increased its stake in Apple by 3.0% during the 1st quarter. Main Street Research LLC now owns 346,552 shares of the iPhone maker’s stock valued at $59,427,000 after buying an additional 10,204 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

Apple stock opened at $229.87 on Friday. The company has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a 50-day simple moving average of $227.73 and a 200-day simple moving average of $218.06.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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 revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.25.

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.