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

Bfsg LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 95,690 shares of the iPhone maker’s stock after selling 1,959 shares during the quarter. Apple comprises about 2.6% of Bfsg LLC’s holdings, making the stock its 4th largest position. Bfsg LLC’s holdings in Apple were worth $22,296,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of 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. Hoese & Co LLP boosted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the 2nd quarter worth approximately $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on AAPL shares. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Apple in a research note on Friday, November 29th. UBS Group reissued a “neutral” rating and issued a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.68.

Apple Stock Performance

Shares of AAPL opened at $242.84 on Monday. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23. 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 business’s 50 day moving average is $230.53 and its two-hundred day moving average is $221.83. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $244.63.

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

Apple Announces Dividend

The business also recently declared 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. 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 16.45%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 408,170 shares of company stock worth $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.