Corrigan Financial Inc. Sells 538 Shares of Apple Inc. (NASDAQ:AAPL)

Corrigan Financial Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,828 shares of the iPhone maker’s stock after selling 538 shares during the period. Apple accounts for about 1.8% of Corrigan Financial Inc.’s investment portfolio, making the stock its 15th largest position. Corrigan Financial Inc.’s holdings in Apple were worth $7,882,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $42,000. Access Investment Management LLC acquired a new stake in Apple in the 1st quarter valued at $140,000. Hoese & Co LLP boosted its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in Apple in the 2nd quarter valued at $206,000. 60.41% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $228.44 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock’s 50 day moving average price is $227.59 and its 200-day moving average price is $217.47. The company has a market capitalization of $3.45 trillion, a PE ratio of 37.57, a PEG ratio of 2.24 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AAPL shares. Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Loop Capital dropped their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.25.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by company 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.