Apple Inc. (NASDAQ:AAPL) is MTM Investment Management LLC’s 2nd Largest Position

MTM Investment Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,070 shares of the iPhone maker’s stock after selling 2,465 shares during the quarter. Apple accounts for about 4.4% of MTM Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding. MTM Investment Management LLC’s holdings in Apple were worth $11,355,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. High Net Worth Advisory Group LLC increased its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Granite Investment Partners LLC increased its position in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Amara Financial LLC. purchased a new stake in Apple during the third quarter valued at $288,000. Truist Financial Corp increased its position in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC increased its position in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, 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. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AAPL shares. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday. Moffett Nathanson reissued a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Sanford C. Bernstein boosted their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $238.05.

Apple Trading Up 0.5 %

Shares of AAPL stock opened at $239.36 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 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. The stock’s 50 day simple moving average is $241.17 and its two-hundred day simple moving average is $230.75. The company has a market cap of $3.60 trillion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

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.