Peddock Capital Advisors LLC Sells 661 Shares of Apple Inc. (NASDAQ:AAPL)

Peddock Capital Advisors LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,869 shares of the iPhone maker’s stock after selling 661 shares during the quarter. Apple comprises approximately 6.1% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Peddock Capital Advisors LLC’s holdings in Apple were worth $25,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Verus Financial Partners Inc. increased its holdings in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory grew its position in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its holdings in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC raised its position in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 0.9 %

Shares of NASDAQ AAPL opened at $235.06 on Wednesday. The firm has a fifty day simple moving average of $228.43 and a two-hundred day simple moving average of $219.01. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.55 trillion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 company had revenue of $94.93 billion during 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%. 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. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 annualized dividend and a yield of 0.43%. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Maxim Group upped their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Two 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. According to data from MarketBeat, the stock currently has a consensus 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.