Park Edge Advisors LLC Sells 429 Shares of Apple Inc. (NASDAQ:AAPL)

Park Edge Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,907 shares of the iPhone maker’s stock after selling 429 shares during the quarter. Apple makes up 0.7% of Park Edge Advisors LLC’s investment portfolio, making the stock its 26th largest position. Park Edge Advisors LLC’s holdings in Apple were worth $2,308,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. lifted its holdings in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new stake in shares of Apple in the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $259.02 on Friday. 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’s 50-day moving average is $237.00 and its 200-day moving average is $227.21. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a market cap of $3.92 trillion, a price-to-earnings ratio of 42.60, 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, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % 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 that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock valued at $117,004,745 in the last 90 days. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAPL shares. Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Bank of America boosted their price objective on shares of Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.47.

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.