Apple Inc. (NASDAQ:AAPL) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 509,991 shares of the iPhone maker’s stock after selling 14,133 shares during the period. Apple makes up 2.7% of Miracle Mile Advisors LLC’s holdings, making the stock its 8th biggest holding. Miracle Mile Advisors LLC’s holdings in Apple were worth $118,828,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the second quarter worth approximately $42,000. Access Investment Management LLC bought a new position in Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the 2nd quarter valued at $208,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $229.87 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a fifty day simple moving average of $227.73 and a 200 day simple moving average of $217.81. The stock has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the company earned $1.46 EPS. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In related news, 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 completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAPL. TD Cowen upped their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Finally, Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

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.