PSI Advisors LLC Trims Holdings in Apple Inc. (NASDAQ:AAPL)

PSI Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.4% during the third quarter, Holdings Channel reports. The firm owned 30,933 shares of the iPhone maker’s stock after selling 4,389 shares during the quarter. Apple comprises about 2.1% of PSI Advisors LLC’s holdings, making the stock its 12th largest position. PSI Advisors LLC’s holdings in Apple were worth $7,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the third 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 last quarter. Cordant Inc. raised its stake in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the last quarter. Hoese & Co LLP grew its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new position in Apple during the second quarter worth about $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the company’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.78.

Apple Stock Performance

Shares of AAPL opened at $254.49 on Friday. 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 capitalization of $3.85 trillion, a P/E ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $255.00. The firm’s 50 day moving average is $234.97 and its 200-day moving average is $225.70.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping 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 company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid 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 0.39%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.