Parkside Advisors LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Parkside Advisors LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,295 shares of the iPhone maker’s stock after selling 394 shares during the quarter. Apple comprises 1.3% of Parkside Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Parkside Advisors LLC’s holdings in Apple were worth $5,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. Granite Investment Partners LLC boosted its position in shares of Apple by 2.7% in 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 during the period. Truist Financial Corp boosted its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. EP Wealth Advisors LLC grew 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 valued at $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Bellwether Advisors LLC increased its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Apple by 34.9% in the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after buying an additional 51,842 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AAPL shares. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Friday, October 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple Stock Performance

Shares of Apple stock opened at $232.87 on Tuesday. The stock has a market cap of $3.52 trillion, a price-to-earnings ratio of 38.30, a PEG ratio of 2.25 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm’s 50-day moving average is $228.06 and its 200 day moving average is $218.64.

Apple (NASDAQ:AAPL) last posted its quarterly 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 firm 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 business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last quarter. 0.06% of the stock is currently owned by insiders.

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.