Apple Inc. (NASDAQ:AAPL) Shares Sold by Manchester Financial Inc.

Manchester Financial Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 64,483 shares of the iPhone maker’s stock after selling 1,924 shares during the period. Apple comprises 3.3% of Manchester Financial Inc.’s investment portfolio, making the stock its 9th biggest position. Manchester Financial Inc.’s holdings in Apple were worth $15,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the period. American Century Companies Inc. grew its stake in Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB lifted its position in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 over the last 90 days. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Bank of America lifted their price target on shares of Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Wedbush increased their price target on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Stock Up 0.3 %

Shares of NASDAQ AAPL opened at $259.02 on Friday. The firm has a 50 day moving average price of $237.00 and a 200 day moving average price of $227.21. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.92 trillion, a P/E ratio of 42.60, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced 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 company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Apple Company 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.