Apple Inc. (NASDAQ:AAPL) Position Reduced by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 58,091 shares of the iPhone maker’s stock after selling 76 shares during the period. Apple comprises approximately 3.8% of Timber Creek Capital Management LLC’s holdings, making the stock its 3rd largest position. Timber Creek Capital Management LLC’s holdings in Apple were worth $13,535,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Apple by 11.2% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 348,141 shares of the iPhone maker’s stock worth $81,117,000 after buying an additional 34,995 shares during the period. Kitching Partners LLC purchased a new stake in Apple in the third quarter worth about $325,000. Encompass More Asset Management grew its holdings in Apple by 347.2% during the 3rd quarter. Encompass More Asset Management now owns 18,178 shares of the iPhone maker’s stock worth $4,236,000 after acquiring an additional 14,113 shares in the last quarter. Acropolis Investment Management LLC increased its position in Apple by 0.7% during the 3rd quarter. Acropolis Investment Management LLC now owns 81,959 shares of the iPhone maker’s stock valued at $19,094,000 after purchasing an additional 545 shares during the period. Finally, Kolinsky Wealth Management LLC raised its holdings in shares of Apple by 7.5% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 30,132 shares of the iPhone maker’s stock valued at $7,021,000 after purchasing an additional 2,106 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’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 owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AAPL. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and dropped their target price for the company from $211.84 to $200.75 in a research report on Thursday, January 30th. Argus raised Apple to a “strong-buy” rating in a research report on Friday, January 31st. Barclays raised their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $242.52.

Apple Price Performance

Shares of NASDAQ AAPL opened at $227.63 on Friday. The stock’s 50-day simple moving average is $241.45 and its 200-day simple moving average is $230.97. The firm has a market capitalization of $3.42 trillion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities research analysts forecast that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.