Apple Inc. (NASDAQ:AAPL) is Callahan Advisors LLC’s 4th Largest Position

Callahan Advisors LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,243 shares of the iPhone maker’s stock after selling 557 shares during the quarter. Apple comprises 4.0% of Callahan Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Callahan Advisors LLC’s holdings in Apple were worth $40,599,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. lifted its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Finally, EMC Capital Management boosted its stake in Apple by 7.3% in the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after buying an additional 61 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their target price on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $236.85 on Friday. The stock has a market cap of $3.58 trillion, a P/E ratio of 38.96, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a fifty day moving average price of $240.18 and a two-hundred day moving average price of $229.95. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. As a group, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. 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.