GEM Asset Management LLC Has $4.23 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

GEM Asset Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,087 shares of the iPhone maker’s stock after selling 158 shares during the quarter. Apple comprises approximately 2.4% of GEM Asset Management LLC’s holdings, making the stock its 11th largest position. GEM Asset Management LLC’s holdings in Apple were worth $4,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter worth $42,000. Hoese & Co LLP increased its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in Apple during the second quarter worth $206,000. Benchmark Wealth Management LLC bought a new position in Apple during the second quarter worth $208,000. Finally, SMH Capital Advisors Inc. bought a new position in Apple during the second quarter worth $209,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock opened at $234.93 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market cap of $3.55 trillion, a PE ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24. The company’s 50-day moving average is $228.83 and its two-hundred day moving average is $219.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given 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 yield of 0.43%. Apple’s payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, November 1st. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Two investment 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 15,419 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated 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 directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

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.