Apple Inc. (NASDAQ:AAPL) Stock Position Lowered by New Capital Management LP

New Capital Management LP lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the third quarter, HoldingsChannel.com reports. The fund owned 83,267 shares of the iPhone maker’s stock after selling 177 shares during the period. Apple makes up approximately 5.5% of New Capital Management LP’s holdings, making the stock its 4th largest holding. New Capital Management LP’s holdings in Apple were worth $19,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Apple by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after buying an additional 51,842 shares during the last quarter. First International Bank & Trust increased its position in shares of Apple by 8.0% in the third quarter. First International Bank & Trust now owns 6,215 shares of the iPhone maker’s stock valued at $1,448,000 after acquiring an additional 458 shares during the period. waypoint wealth counsel increased its position in shares of Apple by 4.7% in the third quarter. waypoint wealth counsel now owns 29,507 shares of the iPhone maker’s stock valued at $6,875,000 after acquiring an additional 1,317 shares during the period. Wright Investors Service Inc. increased its position in shares of Apple by 7.2% in the third quarter. Wright Investors Service Inc. now owns 87,347 shares of the iPhone maker’s stock valued at $20,352,000 after acquiring an additional 5,841 shares during the period. Finally, Quent Capital LLC boosted its stake in shares of Apple by 6.6% during the 3rd quarter. Quent Capital LLC now owns 137,845 shares of the iPhone maker’s stock valued at $32,042,000 after purchasing an additional 8,483 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Citigroup lifted their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Performance

AAPL opened at $228.44 on Friday. The firm has a market cap of $3.45 trillion, a P/E ratio of 37.57, a PEG ratio of 2.24 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a 50 day simple moving average of $227.59 and a two-hundred day simple moving average of $217.47. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS 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 business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the business earned $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction 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 represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by company insiders.

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.