Omega Financial Group LLC Sells 3,261 Shares of Apple Inc. (NASDAQ:AAPL)

Omega Financial Group LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,567 shares of the iPhone maker’s stock after selling 3,261 shares during the quarter. Omega Financial Group LLC’s holdings in Apple were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Swedbank AB acquired a new position in Apple in the first quarter valued at approximately $3,026,492,000. Strategic Financial Concepts LLC increased its stake in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares during the period. Lazard Asset Management LLC boosted its stake in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Apple in the second quarter worth $834,368,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AAPL. Loop Capital cut their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $229.87 on Friday. The company has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company’s fifty day moving average price is $227.73 and its 200 day moving average price is $218.06. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Apple Company 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.