Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by Bay Rivers Group

Bay Rivers Group decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,348 shares of the iPhone maker’s stock after selling 373 shares during the period. Apple comprises about 8.3% of Bay Rivers Group’s investment portfolio, making the stock its biggest holding. Bay Rivers Group’s holdings in Apple were worth $16,624,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Argyle Capital Management Inc. raised its stake in Apple by 4.6% during the 3rd quarter. Argyle Capital Management Inc. now owns 4,745 shares of the iPhone maker’s stock valued at $1,106,000 after buying an additional 209 shares during the last quarter. Hedeker Wealth LLC lifted its holdings in Apple by 1.1% in the third quarter. Hedeker Wealth LLC now owns 65,496 shares of the iPhone maker’s stock valued at $15,261,000 after acquiring an additional 729 shares during the period. PBMares Wealth Management LLC boosted its position in Apple by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 42,296 shares of the iPhone maker’s stock worth $9,855,000 after purchasing an additional 214 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Apple by 1.2% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 468,522 shares of the iPhone maker’s stock valued at $109,166,000 after purchasing an additional 5,632 shares during the period. Finally, Legacy Wealth Management Inc increased its position in shares of Apple by 224.4% during the 3rd quarter. Legacy Wealth Management Inc now owns 3,247 shares of the iPhone maker’s stock valued at $757,000 after purchasing an additional 2,246 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AAPL shares. Rosenblatt Securities lifted their price target on Apple from $261.00 to $262.00 and gave the stock 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. Wells Fargo & Company increased their price target on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Two investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $252.20 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.81 trillion, a PE ratio of 41.48, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a fifty day moving average of $237.41 and a two-hundred day moving average of $227.89.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. As a group, research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio is presently 16.45%.

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.