A. D. Beadell Investment Counsel Inc. Sells 434 Shares of Apple Inc. (NASDAQ:AAPL)

A. D. Beadell Investment Counsel Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,050 shares of the iPhone maker’s stock after selling 434 shares during the period. Apple accounts for 2.2% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 15th largest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Apple were worth $2,807,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Granite Investment Partners LLC raised its position in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp raised its position 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 valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. EP Wealth Advisors LLC raised 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 during the period. GAMMA Investing LLC raised its position in shares of Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after purchasing an additional 51,842 shares during the period. Finally, Bellwether Advisors LLC raised its position in shares of Apple by 387.3% during 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 during the period. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Down 0.1 %

Shares of AAPL opened at $234.93 on Thursday. The stock has a fifty day moving average of $228.71 and a two-hundred day moving average of $219.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.55 trillion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during 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 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 firm posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. 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 0.43%. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Monday. Evercore ISI restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Loop Capital reduced their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.25.

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.