Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Farrow Financial Inc.

Farrow Financial Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 64,768 shares of the iPhone maker’s stock after selling 134 shares during the period. Apple makes up approximately 9.5% of Farrow Financial Inc.’s portfolio, making the stock its biggest holding. Farrow Financial Inc.’s holdings in Apple were worth $15,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fragasso Financial Advisors Inc raised its position in shares of Apple by 0.7% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 289,507 shares of the iPhone maker’s stock worth $60,976,000 after acquiring an additional 1,901 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of Apple by 3.6% in the 2nd quarter. Trust Co. of Vermont now owns 583,048 shares of the iPhone maker’s stock worth $122,802,000 after acquiring an additional 20,160 shares in the last quarter. Lynx Investment Advisory purchased a new position in Apple during the 2nd quarter valued at about $5,241,000. New England Research & Management Inc. boosted its stake in Apple by 10.9% during the second quarter. New England Research & Management Inc. now owns 36,253 shares of the iPhone maker’s stock worth $7,636,000 after acquiring an additional 3,551 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of Apple by 0.8% in the 2nd quarter. Fulton Bank N.A. now owns 289,575 shares of the iPhone maker’s stock worth $60,990,000 after buying an additional 2,333 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred 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 owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,170 shares of company stock valued at $117,004,745. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $258.20 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $258.21. The company has a 50-day moving average of $235.93 and a 200-day moving average of $226.77. The company has a market capitalization of $3.90 trillion, a P/E ratio of 42.47, a PEG ratio of 2.41 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. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 earnings per share. Equities analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.78.

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.