Apple Inc. (NASDAQ:AAPL) Shares Sold by Constitution Capital LLC

Constitution Capital LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,944 shares of the iPhone maker’s stock after selling 3,807 shares during the quarter. Apple comprises approximately 4.5% of Constitution Capital LLC’s holdings, making the stock its 5th biggest holding. Constitution Capital LLC’s holdings in Apple were worth $8,375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. boosted its holdings in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory lifted its position in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares in the last quarter. Lowery Thomas LLC grew its holdings in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in shares of Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction 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 completion of the sale, 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 worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $242.65 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.67 trillion, a P/E ratio of 39.91, a PEG ratio of 2.35 and a beta of 1.23. The company has a fifty day moving average price of $229.59 and a 200 day moving average price of $220.74. Apple Inc. has a one year low of $164.07 and a one year high of $242.76.

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

Apple Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AAPL shares. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Monday, November 25th. Citigroup upped their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Finally, Maxim Group increased 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

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.