Apple Inc. (NASDAQ:AAPL) Shares Sold by WESCAP Management Group Inc.

WESCAP Management Group Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 17.1% in the third quarter, Holdings Channel.com reports. The fund owned 23,155 shares of the iPhone maker’s stock after selling 4,772 shares during the period. Apple makes up approximately 1.4% of WESCAP Management Group Inc.’s investment portfolio, making the stock its 19th biggest position. WESCAP Management Group Inc.’s holdings in Apple were worth $5,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bull Oak Capital LLC boosted 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 stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc boosted its position in 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 buying an additional 144 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the third quarter worth $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter worth $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AAPL. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Evercore ISI raised their target price on shares of Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Apple Stock Up 0.0 %

Apple stock opened at $227.65 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a market cap of $3.42 trillion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The stock’s 50 day moving average price is $241.26 and its 200 day moving average price is $231.13.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

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.