Apple Inc. (NASDAQ:AAPL) Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 387,610 shares of the iPhone maker’s stock after selling 4,842 shares during the period. Apple accounts for 3.6% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 5th biggest position. Klingenstein Fields & Co. LP’s holdings in Apple were worth $90,313,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. 1620 Investment Advisors Inc. boosted its stake in shares of Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after buying an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. boosted its position in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory raised its stake in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Finally, Core Wealth Management Inc. boosted its stake in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. 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 Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, 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. Insiders own 0.06% of the company’s stock.

Apple Trading Down 1.1 %

Shares of NASDAQ:AAPL opened at $242.21 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The stock has a market cap of $3.66 trillion, a PE ratio of 39.84, a P/E/G ratio of 2.41 and a beta of 1.20. The business has a 50 day moving average of $239.32 and a 200-day moving average of $229.57.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Citigroup increased their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.64.

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.