Apple Inc. (NASDAQ:AAPL) Shares Sold by Saybrook Capital NC

Saybrook Capital NC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.3% during the third quarter, Holdings Channel reports. The fund owned 166,747 shares of the iPhone maker’s stock after selling 15,093 shares during the quarter. Apple comprises 11.0% of Saybrook Capital NC’s investment portfolio, making the stock its 2nd largest position. Saybrook Capital NC’s holdings in Apple were worth $38,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. International Assets Investment Management LLC lifted its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after acquiring an additional 2,359,409 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $252.20 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average of $237.41 and a 200 day moving average of $227.89. The firm has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

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

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Barclays dropped their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Finally, Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

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.