Scott & Selber Inc. Sells 477 Shares of Apple Inc. (NASDAQ:AAPL)

Scott & Selber Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 117,071 shares of the iPhone maker’s stock after selling 477 shares during the quarter. Apple comprises about 8.5% of Scott & Selber Inc.’s portfolio, making the stock its largest holding. Scott & Selber Inc.’s holdings in Apple were worth $27,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. International Assets Investment Management LLC boosted its holdings in 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 worth $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Apple in the second quarter worth $834,368,000. Finally, National Pension Service grew its holdings in Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock worth $6,496,738,000 after acquiring an additional 3,416,922 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday, December 10th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Apple Price Performance

AAPL stock opened at $237.87 on Thursday. The firm has a 50-day moving average of $240.63 and a two-hundred day moving average of $230.52. The firm has a market capitalization of $3.58 trillion, a PE ratio of 39.12, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

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.