Mutual Advisors LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Mutual Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 675,958 shares of the iPhone maker’s stock after selling 3,219 shares during the quarter. Apple comprises 4.3% of Mutual Advisors LLC’s holdings, making the stock its 3rd largest holding. Mutual Advisors LLC’s holdings in Apple were worth $155,856,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bull Oak Capital LLC boosted its stake in 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 purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. lifted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new position in Apple during the second quarter worth about $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on AAPL shares. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Oppenheimer restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Wedbush upped their price target on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Apple Stock Performance

NASDAQ AAPL opened at $252.20 on Tuesday. The business has a 50-day moving average price of $237.41 and a 200-day moving average price of $227.89. The firm has a market cap of $3.81 trillion, a price-to-earnings ratio of 41.48, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s payout ratio is currently 16.45%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade 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 over the last ninety days. 0.06% of the stock is owned by insiders.

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.