Hendershot Investments Inc. Has $45.40 Million Stake in Apple Inc. (NASDAQ:AAPL)

Hendershot Investments Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,831 shares of the iPhone maker’s stock after selling 22,137 shares during the quarter. Apple comprises 6.2% of Hendershot Investments Inc.’s portfolio, making the stock its 2nd largest holding. Hendershot Investments Inc.’s holdings in Apple were worth $45,396,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bull Oak Capital LLC lifted its holdings in 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 last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its holdings 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 worth $69,000 after purchasing an additional 144 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC bought a new stake in Apple during the third quarter worth approximately $110,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Evercore ISI increased their price target on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Sanford C. Bernstein boosted their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, KeyCorp restated an “underweight” rating and set a $200.00 price target on shares of Apple in a report on Friday, January 31st. Four 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Performance

NASDAQ:AAPL opened at $227.65 on Tuesday. The firm has a market capitalization of $3.42 trillion, a PE 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. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm’s fifty day simple moving average is $241.26 and its 200 day simple moving average is $231.13.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders 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 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is 15.87%.

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.