Apple Inc. (NASDAQ:AAPL) Shares Sold by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 103,074 shares of the iPhone maker’s stock after selling 307 shares during the period. Apple accounts for 2.9% of Abner Herrman & Brock LLC’s holdings, making the stock its 9th largest holding. Abner Herrman & Brock LLC’s holdings in Apple were worth $24,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new stake in shares of Apple during the first quarter worth $3,026,492,000. Strategic Financial Concepts LLC increased its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in Apple during the second quarter worth approximately $834,368,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Citigroup boosted their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $235.06 on Wednesday. The firm’s 50 day moving average price is $228.43 and its 200-day moving average price is $219.01. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.55 trillion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. Equities research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’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 sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

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.