Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Oxbow Advisors LLC

Oxbow Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.9% in the third quarter, Holdings Channel reports. The institutional investor owned 111,953 shares of the iPhone maker’s stock after selling 6,976 shares during the period. Apple makes up 2.6% of Oxbow Advisors LLC’s holdings, making the stock its 7th biggest holding. Oxbow Advisors LLC’s holdings in Apple were worth $26,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Bull Oak Capital LLC lifted its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple in the 3rd quarter valued at about $110,000. Finally, Cordant Inc. grew its stake in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $237.87 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The business has a fifty day moving average of $240.63 and a 200-day moving average of $230.52. The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued 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 (DPR) is 16.45%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following 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. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. Wedbush increased their price target on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, December 26th. Moffett Nathanson reissued a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Finally, Barclays raised their price target on Apple to $184.00 and gave the stock a “sell” rating in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

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.