Selway Asset Management Has $28.60 Million Stake in Apple Inc. (NASDAQ:AAPL)

Selway Asset Management lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,762 shares of the iPhone maker’s stock after selling 560 shares during the quarter. Apple comprises approximately 11.2% of Selway Asset Management’s investment portfolio, making the stock its biggest holding. Selway Asset Management’s holdings in Apple were worth $28,604,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Granite Investment Partners LLC boosted its position in Apple by 2.7% during the second 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 grew its stake 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 buying an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC increased its position in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares during the period. CHICAGO TRUST Co NA grew its position in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock worth $34,768,000 after purchasing an additional 19,670 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake 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 valued at $46,650,000 after buying an additional 51,842 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 1.0 %

AAPL opened at $239.59 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $240.79. The stock has a market cap of $3.62 trillion, a PE ratio of 39.41, a PEG ratio of 2.33 and a beta of 1.24. The business has a 50 day moving average of $229.02 and a 200-day moving average of $220.02. 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 issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 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 for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given 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 dividend yield of 0.42%. Apple’s payout ratio is currently 16.45%.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Maxim Group upped their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.