Sphera Funds Management LTD. Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Sphera Funds Management LTD. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,847 shares of the iPhone maker’s stock after selling 653 shares during the period. Apple comprises approximately 2.3% of Sphera Funds Management LTD.’s holdings, making the stock its 13th biggest holding. Sphera Funds Management LTD.’s holdings in Apple were worth $14,177,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AAPL. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the 3rd 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 during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC acquired a new stake in Apple during the 3rd quarter valued at $110,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction 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 directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Trading Down 2.4 %

NASDAQ AAPL opened at $227.63 on Monday. The firm has a market capitalization of $3.42 trillion, a P/E ratio of 36.13, a PEG ratio of 2.32 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $241.26 and a 200 day simple moving average of $231.04. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be paid a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup raised their price target on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a report on Friday, January 31st. Finally, Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Apple Company 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.