Myecfo LLC Sells 349 Shares of Apple Inc. (NASDAQ:AAPL)

Myecfo LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,007 shares of the iPhone maker’s stock after selling 349 shares during the period. Apple accounts for approximately 1.9% of Myecfo LLC’s portfolio, making the stock its 11th biggest holding. Myecfo LLC’s holdings in Apple were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AAPL. China Universal Asset Management Co. Ltd. lifted its stake in shares of Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after buying an additional 42,282 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Apple by 0.9% in the first quarter. Blue Trust Inc. now owns 128,418 shares of the iPhone maker’s stock worth $22,021,000 after buying an additional 1,106 shares in the last quarter. Peterson Wealth Services lifted its stake in shares of Apple by 1.8% in the first quarter. Peterson Wealth Services now owns 96,257 shares of the iPhone maker’s stock worth $16,506,000 after buying an additional 1,688 shares in the last quarter. Fairhaven Wealth Management LLC lifted its stake in shares of Apple by 17.9% in the first quarter. Fairhaven Wealth Management LLC now owns 79,503 shares of the iPhone maker’s stock worth $13,633,000 after buying an additional 12,097 shares in the last quarter. Finally, KFA Private Wealth Group LLC lifted its stake in shares of Apple by 6.0% in the first quarter. KFA Private Wealth Group LLC now owns 29,304 shares of the iPhone maker’s stock worth $5,025,000 after buying an additional 1,648 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $229.87 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock’s 50 day simple moving average is $227.73 and its two-hundred day simple moving average is $217.81. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24.

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

Apple Dividend Announcement

The business also recently announced 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 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Raymond James boosted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. TD Cowen raised their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.25.

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.