Prudent Man Advisors LLC Sells 1,711 Shares of Apple Inc. (NASDAQ:AAPL)

Prudent Man Advisors LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,456 shares of the iPhone maker’s stock after selling 1,711 shares during the period. Apple comprises approximately 2.1% of Prudent Man Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Prudent Man Advisors LLC’s holdings in Apple were worth $6,275,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC lifted its position 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 acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter worth $110,000. Finally, Cordant Inc. raised its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. 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 report on Friday, October 25th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Maxim Group boosted their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 target price (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.05.

Apple Trading Down 0.4 %

Shares of NASDAQ:AAPL opened at $222.78 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company’s 50 day moving average is $240.93 and its two-hundred day moving average is $230.69. The company has a market cap of $3.35 trillion, a PE ratio of 36.64, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on 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 $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

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.