Quarry Hill Advisors LLC Sells 55 Shares of Apple Inc. (NASDAQ:AAPL)

Quarry Hill Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,062 shares of the iPhone maker’s stock after selling 55 shares during the quarter. Quarry Hill Advisors LLC’s holdings in Apple were worth $713,000 at the end of the most recent reporting period.

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

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AAPL shares. Moffett Nathanson cut their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Barclays dropped their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Finally, Maxim Group lifted their price objective 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. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Apple Stock Performance

NASDAQ:AAPL opened at $255.59 on Monday. The business’s fifty day moving average is $237.41 and its 200 day moving average is $227.89. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. 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 $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 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 during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the business earned $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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