Apple Inc. (NASDAQ:AAPL) Stake Cut by Freemont Management S.A.

Freemont Management S.A. decreased its position in Apple Inc. (NASDAQ:AAPL) by 57.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,000 shares of the iPhone maker’s stock after selling 73,000 shares during the period. Apple comprises 6.3% of Freemont Management S.A.’s portfolio, making the stock its 3rd largest holding. Freemont Management S.A.’s holdings in Apple were worth $12,815,000 at the end of the most recent quarter.

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

Apple Stock Down 3.2 %

Shares of NASDAQ:AAPL opened at $222.64 on Wednesday. The stock has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.25 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company’s fifty day moving average is $241.12 and its two-hundred day moving average is $230.85. 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 released its quarterly 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 business had revenue of $94.93 billion during 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 company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared 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 was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AAPL shares. Wells Fargo & Company boosted their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Rosenblatt Securities boosted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a report on Tuesday. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Finally, Raymond James boosted their price objective on shares of Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.02.

Apple 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.