Prism Advisors Inc. Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Prism Advisors Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,902 shares of the iPhone maker’s stock after selling 241 shares during the period. Prism Advisors Inc.’s holdings in Apple were worth $1,375,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Swedbank AB purchased a new stake in Apple during the first quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC raised its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Apple by 158.3% during the 1st 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 holdings in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in Apple in the 2nd quarter valued at approximately $834,368,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple 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 owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $242.84 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $244.63. The firm has a market cap of $3.67 trillion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The business has a 50 day moving average price of $230.23 and a 200-day moving average price of $221.05.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly 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 in the prior year, the company posted $1.46 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s payout ratio is presently 16.45%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Apple in a report on Friday, November 29th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.68.

Read Our Latest Stock Report on AAPL

Apple Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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