Apple Inc. (NASDAQ:AAPL) Shares Sold by Jacobsen Capital Management

Jacobsen Capital Management decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 30,640 shares of the iPhone maker’s stock after selling 75 shares during the quarter. Apple makes up approximately 3.0% of Jacobsen Capital Management’s investment portfolio, making the stock its 7th largest position. Jacobsen Capital Management’s holdings in Apple were worth $7,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AAPL. Fidelis Capital Partners LLC boosted its stake in Apple by 7.1% during the 3rd quarter. Fidelis Capital Partners LLC now owns 220,444 shares of the iPhone maker’s stock worth $50,870,000 after purchasing an additional 14,616 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of Apple by 1.0% in the third quarter. Valmark Advisers Inc. now owns 197,176 shares of the iPhone maker’s stock worth $45,942,000 after buying an additional 1,998 shares in the last quarter. Argyle Capital Management Inc. boosted its position in Apple by 4.6% during the third quarter. Argyle Capital Management Inc. now owns 4,745 shares of the iPhone maker’s stock worth $1,106,000 after acquiring an additional 209 shares during the last quarter. Hedeker Wealth LLC grew its stake in Apple by 1.1% during the 3rd quarter. Hedeker Wealth LLC now owns 65,496 shares of the iPhone maker’s stock valued at $15,261,000 after acquiring an additional 729 shares in the last quarter. Finally, PBMares Wealth Management LLC raised its holdings in Apple by 0.5% in the 3rd quarter. PBMares Wealth Management LLC now owns 42,296 shares of the iPhone maker’s stock valued at $9,855,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAPL. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson dropped their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Loop Capital dropped their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 1.3 %

NASDAQ AAPL opened at $252.20 on Tuesday. 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 stock has a market capitalization of $3.81 trillion, a P/E ratio of 41.48, 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. The firm has a 50-day moving average price of $237.41 and a 200 day moving average price of $227.89.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 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.