EverSource Wealth Advisors LLC Sells 2,413 Shares of Apple Inc. (NASDAQ:AAPL)

EverSource Wealth Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,947 shares of the iPhone maker’s stock after selling 2,413 shares during the quarter. Apple comprises about 3.0% of EverSource Wealth Advisors LLC’s holdings, making the stock its 4th biggest holding. EverSource Wealth Advisors LLC’s holdings in Apple were worth $47,520,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Moors & Cabot Inc. increased its stake in shares of Apple by 0.5% during the third quarter. Moors & Cabot Inc. now owns 433,946 shares of the iPhone maker’s stock worth $101,109,000 after buying an additional 2,165 shares during the period. EagleClaw Capital Managment LLC increased its stake in Apple by 5.5% in the third quarter. EagleClaw Capital Managment LLC now owns 95,493 shares of the iPhone maker’s stock valued at $22,250,000 after purchasing an additional 4,985 shares during the last quarter. Stonebridge Financial Planning Group LLC increased its stake in Apple by 1.2% in the third quarter. Stonebridge Financial Planning Group LLC now owns 14,365 shares of the iPhone maker’s stock valued at $3,347,000 after purchasing an additional 164 shares during the last quarter. Silver Oak Advisory Group Inc. increased its stake in Apple by 72.9% in the third quarter. Silver Oak Advisory Group Inc. now owns 9,971 shares of the iPhone maker’s stock valued at $2,323,000 after purchasing an additional 4,205 shares during the last quarter. Finally, Glaxis Capital Management LLC purchased a new position in Apple in the third quarter valued at approximately $466,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group decreased their price objective on Apple from $286.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Tuesday, January 21st. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $238.05.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple 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 of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % 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.

Apple Stock Up 0.5 %

AAPL opened at $239.36 on Thursday. 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 has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The business has a 50-day moving average of $241.17 and a two-hundred day moving average of $230.75. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly 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 company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. On average, research analysts expect 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.