IAM Advisory LLC Sells 383 Shares of Apple Inc. (NASDAQ:AAPL)

IAM Advisory LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 23,440 shares of the iPhone maker’s stock after selling 383 shares during the period. Apple comprises approximately 1.4% of IAM Advisory LLC’s investment portfolio, making the stock its 12th biggest position. IAM Advisory LLC’s holdings in Apple were worth $5,461,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AAPL. Fidelis Capital Partners LLC raised its holdings in Apple by 17.9% in 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 during the period. Hershey Financial Advisers LLC purchased a new stake in Apple in the second quarter worth about $42,000. Access Investment Management LLC bought a new position in shares of Apple in the first quarter worth about $140,000. Hoese & Co LLP raised its stake in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Finally, Sage Financial Group Inc. bought a new position in shares of Apple during the 2nd quarter valued at approximately $206,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AAPL. Loop Capital reduced their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Moffett Nathanson dropped their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Finally, UBS Group upped their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. 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 quarter. 0.06% of the stock is owned by insiders.

Apple Trading Up 0.6 %

Shares of AAPL opened at $229.87 on Friday. The company’s fifty day simple moving average is $227.73 and its 200-day simple moving average is $217.81. The company has a market cap of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. 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 twelve month low of $164.07 and a twelve month high of $237.49.

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

Apple Dividend Announcement

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

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.