Cornerstone Capital Inc. Sells 807 Shares of Apple Inc. (NASDAQ:AAPL)

Cornerstone Capital Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,608 shares of the iPhone maker’s stock after selling 807 shares during the quarter. Cornerstone Capital Inc.’s holdings in Apple were worth $10,860,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AAPL. Bull Oak Capital LLC increased its stake 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 during the last quarter. Hershey Financial Advisers LLC bought a new position in Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. increased its stake in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the last quarter. Finally, EMC Capital Management increased its stake in Apple by 7.3% in the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after acquiring an additional 61 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 0.2 %

NASDAQ AAPL opened at $242.70 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company 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 one year low of $164.07 and a one year high of $260.10. The stock has a 50 day moving average price of $239.91 and a 200-day moving average price of $229.75.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the company earned $1.46 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s payout ratio is presently 16.45%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was 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 in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Friday, December 13th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. UBS Group reiterated a “neutral” rating and set a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Finally, Loop Capital cut their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.64.

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.