Apple Inc. (NASDAQ:AAPL) Shares Sold by Seascape Capital Management

Seascape Capital Management trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,766 shares of the iPhone maker’s stock after selling 907 shares during the quarter. Apple makes up 2.6% of Seascape Capital Management’s investment portfolio, making the stock its 6th largest position. Seascape Capital Management’s holdings in Apple were worth $7,168,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AAPL. International Assets Investment Management LLC raised its holdings in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after acquiring an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Apple in the second quarter valued at $834,368,000. Finally, National Pension Service boosted its stake in Apple by 14.0% in the third quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock valued at $6,496,738,000 after acquiring an additional 3,416,922 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and lifted their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Citigroup boosted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays raised their target price on shares of Apple to $184.00 and gave the stock a “sell” rating in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.85.

Apple Stock Performance

Shares of AAPL stock opened at $233.28 on Wednesday. The company has a market cap of $3.53 trillion, a P/E ratio of 38.37, a PEG ratio of 2.41 and a beta of 1.20. The business has a 50 day moving average of $240.63 and a two-hundred day moving average of $230.52. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend 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.