Oak Harvest Investment Services trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 35.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,206 shares of the iPhone maker’s stock after selling 52,177 shares during the period. Apple comprises about 3.2% of Oak Harvest Investment Services’ holdings, making the stock its 4th biggest holding. Oak Harvest Investment Services’ holdings in Apple were worth $21,950,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Lantz Financial LLC increased its stake in shares of Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares during the last quarter. Profit Investment Management LLC lifted its stake in shares of Apple by 4.7% in the second quarter. Profit Investment Management LLC now owns 9,719 shares of the iPhone maker’s stock worth $2,047,000 after buying an additional 432 shares during the last quarter. Tlwm grew its position in shares of Apple by 2.4% in the second quarter. Tlwm now owns 16,089 shares of the iPhone maker’s stock valued at $3,389,000 after purchasing an additional 381 shares during the last quarter. Sax Wealth Advisors LLC bought a new stake in shares of Apple in the second quarter valued at approximately $11,526,000. Finally, Cardinal Capital Management raised its position in shares of Apple by 1.2% during the second quarter. Cardinal Capital Management now owns 83,241 shares of the iPhone maker’s stock valued at $17,532,000 after buying an additional 1,025 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Apple Price Performance
NASDAQ:AAPL opened at $250.42 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The stock has a market capitalization of $3.79 trillion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. 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’s 50-day moving average price is $238.02 and its 200-day moving average price is $228.43.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s dividend payout ratio (DPR) is presently 16.45%.
Insider Buying and Selling
In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated 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 sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,435 shares of company stock worth $39,376,002. Company insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on AAPL. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and increased their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.47.
View Our Latest Stock Report on AAPL
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.
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