Adell Harriman & Carpenter Inc. Sells 1,572 Shares of Apple Inc. (NASDAQ:AAPL)

Adell Harriman & Carpenter Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.4% in the third quarter, Holdings Channel reports. The firm owned 394,874 shares of the iPhone maker’s stock after selling 1,572 shares during the quarter. Apple accounts for 6.7% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 3rd biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Apple were worth $92,006,000 at the end of the most recent quarter.

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

Apple Stock Down 1.3 %

Shares of AAPL opened at $252.20 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The firm has a market capitalization of $3.81 trillion, a P/E ratio of 41.48, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a 50-day simple moving average of $237.41 and a 200-day simple moving average of $227.89. 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 (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AAPL. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Wedbush raised their price target on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday, December 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock worth $117,004,745 in the last quarter. 0.06% of the stock is owned by corporate insiders.

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.