Apple Inc. (NASDAQ:AAPL) Holdings Cut by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,669 shares of the iPhone maker’s stock after selling 2,135 shares during the period. Apple makes up about 1.8% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 9th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Apple were worth $7,845,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bull Oak Capital LLC raised its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its stake 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 purchasing an additional 144 shares in the last quarter. Cordant Inc. lifted its position in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new position in Apple in the second quarter worth about $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Maxim Group raised their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Finally, Wedbush lifted their price target on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $237.47.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,170 shares of company stock valued at $117,004,745. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.3 %

Shares of AAPL opened at $255.59 on Monday. The business’s 50-day moving average price is $237.41 and its 200 day moving average price is $227.89. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.86 trillion, a P/E ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 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.