Palisades Hudson Asset Management L.P. Has $5.15 Million Position in Apple Inc. (NASDAQ:AAPL)

Palisades Hudson Asset Management L.P. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 22,109 shares of the iPhone maker’s stock after selling 847 shares during the quarter. Apple comprises 2.2% of Palisades Hudson Asset Management L.P.’s holdings, making the stock its 11th largest holding. Palisades Hudson Asset Management L.P.’s holdings in Apple were worth $5,151,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Bull Oak Capital LLC grew its position 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 purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. raised its holdings in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares during the period. Finally, EMC Capital Management lifted its position in Apple by 7.3% in the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s 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 sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. Wedbush lifted their price target on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday. Finally, Loop Capital reduced their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three research analysts have rated the stock with a sell rating, eleven have issued 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 company has an average rating of “Moderate Buy” and a consensus price target of $237.64.

Apple Stock 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. The company has a market cap of $3.66 trillion, a P/E ratio of 39.84, a P/E/G ratio of 2.41 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The business has a 50-day simple moving average of $239.32 and a two-hundred day simple moving average of $229.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating 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 firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Apple 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.