Eagle Strategies LLC Sells 1,085 Shares of Apple Inc. (NASDAQ:AAPL)

Eagle Strategies LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% during the third quarter, HoldingsChannel reports. The fund owned 36,546 shares of the iPhone maker’s stock after selling 1,085 shares during the period. Apple comprises approximately 1.5% of Eagle Strategies LLC’s holdings, making the stock its 19th largest position. Eagle Strategies LLC’s holdings in Apple were worth $8,515,000 as of its most recent SEC filing.

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

Apple Stock Performance

AAPL opened at $252.20 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The firm has a 50 day moving average of $237.41 and a two-hundred day moving average of $227.89. The firm has a market capitalization of $3.81 trillion, a PE ratio of 41.48, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its 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. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. During the same period in the previous year, the firm posted $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Analyst Ratings Changes

A number of analysts have commented on AAPL shares. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Finally, KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Two research 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 company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $237.47.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % 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 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.