McElhenny Sheffield Capital Management LLC Sells 44 Shares of Apple Inc. (NASDAQ:AAPL)

McElhenny Sheffield Capital Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,091 shares of the iPhone maker’s stock after selling 44 shares during the period. Apple accounts for about 1.9% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 10th largest holding. McElhenny Sheffield Capital Management LLC’s holdings in Apple were worth $5,846,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. High Net Worth Advisory Group LLC increased its stake in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Granite Investment Partners LLC increased its stake 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 worth $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp increased its stake 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 worth $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC grew its stake 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 valued at $406,099,000 after buying an additional 95,235 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after buying an additional 19,670 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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 shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, 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 over the last three months. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Apple in a research note on Friday, November 29th. Maxim Group upped their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Melius Research reiterated a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Finally, Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Trading Up 0.1 %

Shares of NASDAQ AAPL opened at $248.13 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $250.80. The firm has a 50 day moving average price of $232.50 and a two-hundred day moving average price of $223.88. The stock has a market cap of $3.75 trillion, a P/E ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the company posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.