Apple Inc. (NASDAQ:AAPL) Position Decreased by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,129 shares of the iPhone maker’s stock after selling 53 shares during the quarter. Apple comprises 1.7% of Bruce G. Allen Investments LLC’s investment portfolio, making the stock its 9th largest position. Bruce G. Allen Investments LLC’s holdings in Apple were worth $2,127,000 as of its most recent SEC filing.

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

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. 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. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Barclays dropped their target price on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

AAPL stock opened at $235.06 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. The company has a fifty day simple moving average of $228.43 and a two-hundred day simple moving average of $219.01. 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 (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 7.43 earnings per share 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 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 yield of 0.43%. Apple’s payout ratio is 16.45%.

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.