Carmel Capital Management L.L.C. Has $13.88 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Carmel Capital Management L.L.C. cut its position in Apple Inc. (NASDAQ:AAPL) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 55,412 shares of the iPhone maker’s stock after selling 1,435 shares during the quarter. Apple accounts for approximately 5.2% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 5th biggest holding. Carmel Capital Management L.L.C.’s holdings in Apple were worth $13,876,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. High Net Worth Advisory Group LLC raised its stake in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the last quarter. Amara Financial LLC. bought a new stake in Apple during the third quarter valued at about $288,000. Truist Financial Corp lifted its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its position in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $213.49 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company’s fifty day moving average price is $234.52 and its 200 day moving average price is $233.77. The stock has a market capitalization of $3.21 trillion, a P/E ratio of 33.89, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AAPL shares. DA Davidson set a $290.00 price target on shares of Apple in a research note on Friday, January 31st. UBS Group upped their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. 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 two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.22.

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.