Old Port Advisors Sells 840 Shares of Apple Inc. (NASDAQ:AAPL)

Old Port Advisors cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,635 shares of the iPhone maker’s stock after selling 840 shares during the period. Apple accounts for about 2.6% of Old Port Advisors’ portfolio, making the stock its 2nd largest position. Old Port Advisors’ holdings in Apple were worth $9,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Lantz Financial LLC lifted its holdings in shares of Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares during the period. Trinity Financial Advisors LLC raised its position in Apple by 2.3% during the 2nd quarter. Trinity Financial Advisors LLC now owns 29,427 shares of the iPhone maker’s stock worth $6,198,000 after buying an additional 653 shares during the last quarter. Foresight Capital Management Advisors Inc. boosted its holdings in shares of Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares during the last quarter. MADDEN SECURITIES Corp boosted its holdings in shares of Apple by 0.3% in the 2nd quarter. MADDEN SECURITIES Corp now owns 31,487 shares of the iPhone maker’s stock valued at $6,632,000 after acquiring an additional 90 shares during the last quarter. Finally, Guinness Asset Management LTD increased its stake in shares of Apple by 3.8% in the second quarter. Guinness Asset Management LTD now owns 156,985 shares of the iPhone maker’s stock worth $33,074,000 after acquiring an additional 5,759 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.3 %

AAPL stock opened at $255.59 on Friday. The firm has a market cap of $3.86 trillion, a PE ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. 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 price is $237.41 and its 200-day moving average price is $227.79.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS 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 return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Moffett Nathanson lowered their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 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.