Capital Management Corp VA Reduces Position in Apple Inc. (NASDAQ:AAPL)

Capital Management Corp VA trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.6% during the third quarter, Holdings Channel reports. The fund owned 3,760 shares of the iPhone maker’s stock after selling 225 shares during the quarter. Capital Management Corp VA’s holdings in Apple were worth $876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lantz Financial LLC increased its holdings in Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after buying an additional 2,361 shares during the last quarter. Addenda Capital Inc. increased its holdings in Apple by 9.8% in the second quarter. Addenda Capital Inc. now owns 143,716 shares of the iPhone maker’s stock valued at $30,269,000 after buying an additional 12,848 shares during the last quarter. Tsfg LLC increased its holdings in Apple by 10.9% in the second quarter. Tsfg LLC now owns 53,451 shares of the iPhone maker’s stock valued at $11,258,000 after buying an additional 5,233 shares during the last quarter. Holland Advisory Services Inc. increased its holdings in Apple by 3.9% in the second quarter. Holland Advisory Services Inc. now owns 8,073 shares of the iPhone maker’s stock valued at $1,700,000 after buying an additional 306 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC increased its holdings in Apple by 2.9% in the second quarter. Key Client Fiduciary Advisors LLC now owns 51,290 shares of the iPhone maker’s stock valued at $10,803,000 after buying an additional 1,432 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s 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 directly 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 Price Performance

NASDAQ AAPL opened at $242.70 on Thursday. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 39.92, a P/E/G ratio of 2.41 and a beta of 1.20. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The business’s fifty day moving average is $239.57 and its two-hundred day moving average is $229.66. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.64.

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.