Smithfield Trust Co cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 280,138 shares of the iPhone maker’s stock after selling 180 shares during the quarter. Apple makes up approximately 3.2% of Smithfield Trust Co’s holdings, making the stock its 7th biggest holding. Smithfield Trust Co’s holdings in Apple were worth $65,271,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Bull Oak Capital LLC grew its position 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 acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc increased its stake in shares of 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 buying an additional 144 shares during the period. ARK Investment Management LLC bought a new position in Apple in the 3rd quarter valued at approximately $110,000. Finally, Cordant Inc. boosted its position in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Institutional investors own 67.73% of the company’s stock.
Insider Buying and Selling
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Trading Down 0.7 %
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. Equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s payout ratio is 16.45%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Citigroup upped their price target on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday, January 21st. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday. Finally, Maxim Group raised their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $238.05.
View Our Latest Stock Analysis on AAPL
About Apple
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.
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