Galibier Capital Management Ltd. Sells 400 Shares of Apple Inc. (NASDAQ:AAPL)

Galibier Capital Management Ltd. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,635 shares of the iPhone maker’s stock after selling 400 shares during the period. Apple accounts for 0.3% of Galibier Capital Management Ltd.’s portfolio, making the stock its 28th largest holding. Galibier Capital Management Ltd.’s holdings in Apple were worth $1,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Granite Investment Partners LLC lifted its stake in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp grew its position in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC lifted its stake in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,435 shares of company stock worth $39,376,002. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Wedbush increased their price target on Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, December 26th. Citigroup boosted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Friday, December 13th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Apple Stock Down 0.7 %

Shares of NASDAQ AAPL opened at $250.42 on Wednesday. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The stock has a market capitalization of $3.79 trillion, a P/E ratio of 41.19, a PEG ratio of 2.41 and a beta of 1.23. The firm’s 50 day simple moving average is $238.02 and its two-hundred day simple moving average is $228.43. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. As a group, analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is 16.45%.

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.