Jacobs & Co. CA Has $59.45 Million Stake in Apple Inc. (NASDAQ:AAPL)

Jacobs & Co. CA trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 255,170 shares of the iPhone maker’s stock after selling 4,203 shares during the quarter. Apple comprises 5.9% of Jacobs & Co. CA’s portfolio, making the stock its largest holding. Jacobs & Co. CA’s holdings in Apple were worth $59,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter worth approximately $42,000. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter worth $140,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. bought a new stake in Apple in the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple in the 2nd quarter worth $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Price Performance

Shares of AAPL opened at $228.02 on Tuesday. The firm has a market capitalization of $3.45 trillion, a PE ratio of 37.50, a PEG ratio of 2.20 and a beta of 1.24. 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 company’s 50-day moving average is $227.18 and its 200-day moving average is $217.00. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,040 shares of company stock valued at $91,062,512 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.