Boston Mountain Money Management Inc. Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Boston Mountain Money Management Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,349 shares of the iPhone maker’s stock after selling 105 shares during the period. Apple accounts for 1.0% of Boston Mountain Money Management Inc.’s portfolio, making the stock its 19th biggest position. Boston Mountain Money Management Inc.’s holdings in Apple were worth $1,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC purchased a new position in Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. Hoese & Co LLP raised its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new position in Apple in the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter worth about $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $242.65 on Wednesday. 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 firm has a fifty day moving average price of $229.59 and a 200 day moving average price of $220.74. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $242.76. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.91, a P/E/G ratio of 2.35 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued 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 firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Tigress Financial lifted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Apple in a report on Friday, November 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. 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. Finally, Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

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.