Apple Inc. (NASDAQ:AAPL) Shares Sold by Channing Global Advisors LLC

Channing Global Advisors LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,797 shares of the iPhone maker’s stock after selling 59 shares during the period. Apple accounts for approximately 2.9% of Channing Global Advisors LLC’s holdings, making the stock its 12th biggest holding. Channing Global Advisors LLC’s holdings in Apple were worth $3,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Heritage Family Offices LLP acquired a new position in Apple in the second quarter valued at approximately $3,331,000. Adero Partners LLC raised its position in shares of Apple by 36.7% during the 2nd quarter. Adero Partners LLC now owns 125,085 shares of the iPhone maker’s stock worth $26,345,000 after buying an additional 33,602 shares in the last quarter. WBI Investments LLC boosted its holdings in shares of Apple by 304.3% in the second quarter. WBI Investments LLC now owns 29,120 shares of the iPhone maker’s stock valued at $6,133,000 after acquiring an additional 21,917 shares in the last quarter. TFB Advisors LLC increased its stake in shares of Apple by 17.1% during the second quarter. TFB Advisors LLC now owns 28,652 shares of the iPhone maker’s stock valued at $6,035,000 after acquiring an additional 4,181 shares during the period. Finally, Kings Path Partners LLC bought a new stake in Apple during the second quarter worth approximately $322,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

AAPL opened at $233.22 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The stock has a fifty day moving average price of $241.49 and a 200 day moving average price of $230.96. 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 stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. Analysts forecast that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $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. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AAPL shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 price target on shares of Apple in a research note on Monday, January 27th. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $242.52.

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.