Presidio Capital Management LLC Sells 1,537 Shares of Apple Inc. (NASDAQ:AAPL)

Presidio Capital Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,801 shares of the iPhone maker’s stock after selling 1,537 shares during the quarter. Apple makes up approximately 1.3% of Presidio Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Presidio Capital Management LLC’s holdings in Apple were worth $2,051,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Bull Oak Capital LLC boosted its position in shares of 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 period. Hershey Financial Advisers LLC bought a new stake in Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter valued at approximately $110,000. Finally, Cordant Inc. boosted its stake in shares of 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 buying an additional 173 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Citigroup raised their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Barclays increased their price objective on shares of Apple to $184.00 and gave the stock a “sell” rating in a research note on Friday. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Apple Stock Down 1.0 %

Shares of Apple stock opened at $234.40 on Tuesday. The firm has a market cap of $3.54 trillion, a price-to-earnings ratio of 38.55, a PEG 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 company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50-day moving average is $240.43 and its 200 day moving average is $230.36.

Apple (NASDAQ:AAPL) last announced 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. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly 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. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This 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 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.