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

Oceanside Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,698 shares of the iPhone maker’s stock after selling 47 shares during the quarter. Apple makes up about 0.5% of Oceanside Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Oceanside Advisors LLC’s holdings in Apple were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its position in 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 buying an additional 144 shares in the last quarter. Cordant Inc. increased 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 buying an additional 173 shares during the period. Finally, EMC Capital Management raised its position in shares of Apple by 7.3% during the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after buying an additional 61 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 0.2 %

Shares of Apple stock opened at $243.36 on Friday. The company’s fifty day moving average price is $238.68 and its two-hundred day moving average price is $228.69. The firm has a market capitalization of $3.68 trillion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (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 firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 0.41%. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a report on Friday. Citigroup raised their target price on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities boosted their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. KeyCorp cut shares of 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. Finally, Barclays dropped their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $238.03.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.