Bridge Creek Capital Management LLC Sells 2,099 Shares of Apple Inc. (NASDAQ:AAPL)

Bridge Creek Capital Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,330 shares of the iPhone maker’s stock after selling 2,099 shares during the period. Apple makes up about 4.3% of Bridge Creek Capital Management LLC’s holdings, making the stock its biggest position. Bridge Creek Capital Management LLC’s holdings in Apple were worth $14,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Granite Investment Partners LLC raised its position in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares during the period. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after acquiring an additional 51,842 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several research reports. Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Maxim Group lifted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.25.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $229.87 on Monday. 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 12-month low of $164.07 and a 12-month high of $237.49. The company’s 50 day moving average price is $227.73 and its two-hundred day moving average price is $218.30. The firm has a market cap of $3.47 trillion, a PE ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared 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 payout ratio 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.