DMC Group LLC Trims Stake in Apple Inc. (NASDAQ:AAPL)

DMC Group LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,943 shares of the iPhone maker’s stock after selling 319 shares during the period. Apple accounts for approximately 10.0% of DMC Group LLC’s holdings, making the stock its largest holding. DMC Group LLC’s holdings in Apple were worth $12,336,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Cedrus LLC increased its position in shares of Apple by 4.3% during the 3rd quarter. Cedrus LLC now owns 18,256 shares of the iPhone maker’s stock valued at $4,254,000 after purchasing an additional 757 shares during the last quarter. New Century Financial Group LLC increased its position in shares of Apple by 4.1% during the 3rd quarter. New Century Financial Group LLC now owns 36,616 shares of the iPhone maker’s stock valued at $8,531,000 after purchasing an additional 1,439 shares during the last quarter. Powers Advisory Group LLC increased its position in shares of Apple by 0.8% during the 3rd quarter. Powers Advisory Group LLC now owns 10,682 shares of the iPhone maker’s stock valued at $2,489,000 after purchasing an additional 80 shares during the last quarter. Proathlete Wealth Management LLC increased its position in shares of Apple by 2.3% during the 3rd quarter. Proathlete Wealth Management LLC now owns 3,801 shares of the iPhone maker’s stock valued at $886,000 after purchasing an additional 84 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its position in shares of Apple by 4.8% during the 3rd quarter. Resonant Capital Advisors LLC now owns 81,233 shares of the iPhone maker’s stock valued at $18,927,000 after purchasing an additional 3,745 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by insiders.

Apple Trading Up 0.1 %

AAPL opened at $248.13 on Friday. The stock has a market cap of $3.75 trillion, a PE ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average of $232.50 and a 200-day moving average of $223.41. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $250.80.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

Several equities analysts have recently commented on AAPL shares. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Oppenheimer restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Moffett Nathanson reduced their price target on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Finally, UBS Group restated a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $236.78.

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.