Hoertkorn Richard Charles Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Hoertkorn Richard Charles trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 123,029 shares of the iPhone maker’s stock after selling 3,403 shares during the quarter. Apple comprises approximately 12.4% of Hoertkorn Richard Charles’ portfolio, making the stock its biggest position. Hoertkorn Richard Charles’ holdings in Apple were worth $28,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC raised its stake in shares of Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the period. Verus Financial Partners Inc. raised its holdings in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory boosted its stake in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. lifted its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC raised its holdings in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL stock opened at $254.49 on Friday. The company has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $255.00. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s fifty day moving average price is $234.97 and its 200 day moving average price is $225.70.

Apple (NASDAQ:AAPL) last announced 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 previous year, the company posted $1.46 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Friday, December 13th. Barclays dropped their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Rosenblatt Securities raised their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,170 shares of company stock worth $117,004,745. Corporate insiders own 0.06% of the company’s stock.

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.