Apple Inc. (NASDAQ:AAPL) is Birchcreek Wealth Management LLC’s 8th Largest Position

Birchcreek Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 20,734 shares of the iPhone maker’s stock after selling 1,027 shares during the quarter. Apple accounts for about 3.2% of Birchcreek Wealth Management LLC’s holdings, making the stock its 8th biggest holding. Birchcreek Wealth Management LLC’s holdings in Apple were worth $4,831,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Apple by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker’s stock worth $8,035,283,000 after acquiring an additional 432,140 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

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

Analysts Set New Price Targets

Several research analysts recently issued reports on AAPL shares. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Citigroup raised their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $238.14.

Apple Price Performance

Shares of NASDAQ AAPL opened at $223.66 on Friday. 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 twelve month low of $164.07 and a twelve month high of $260.10. The stock has a 50 day moving average of $241.07 and a two-hundred day moving average of $230.77. The stock has a market cap of $3.36 trillion, a P/E ratio of 36.79, a P/E/G ratio of 2.18 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 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.