Consolidated Capital Management LLC Sells 6,757 Shares of Apple Inc. (NASDAQ:AAPL)

Consolidated Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 11.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,469 shares of the iPhone maker’s stock after selling 6,757 shares during the quarter. Apple comprises approximately 5.3% of Consolidated Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Consolidated Capital Management LLC’s holdings in Apple were worth $12,225,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after acquiring an additional 42,282 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Apple by 7.3% in the first quarter. Kingsview Wealth Management LLC now owns 566,821 shares of the iPhone maker’s stock worth $97,198,000 after purchasing an additional 38,697 shares during the last quarter. Zevin Asset Management LLC lifted its holdings in shares of Apple by 1.6% in the first quarter. Zevin Asset Management LLC now owns 147,468 shares of the iPhone maker’s stock valued at $25,288,000 after purchasing an additional 2,345 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Apple by 4.7% during the first quarter. HBK Sorce Advisory LLC now owns 340,955 shares of the iPhone maker’s stock valued at $58,467,000 after buying an additional 15,332 shares during the last quarter. Finally, Maple Capital Management Inc. grew its holdings in Apple by 0.9% during the first quarter. Maple Capital Management Inc. now owns 497,261 shares of the iPhone maker’s stock worth $85,270,000 after buying an additional 4,411 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Finally, Bank of America raised their target price on Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $242.84 on Monday. 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 52 week low of $164.07 and a 52 week high of $244.63. The firm’s fifty day moving average is $230.53 and its 200 day moving average is $221.83. The firm has a market cap of $3.67 trillion, a P/E ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.23.

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

Apple Dividend Announcement

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

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.