Bayshore Asset Management LLC Decreases Position in Apple Inc. (NASDAQ:AAPL)

Bayshore Asset Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,210 shares of the iPhone maker’s stock after selling 75 shares during the quarter. Apple comprises approximately 0.8% of Bayshore Asset Management LLC’s portfolio, making the stock its 22nd largest position. Bayshore Asset Management LLC’s holdings in Apple were worth $1,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Apple by 2.4% in the first quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock valued at $130,629,000 after purchasing an additional 17,519 shares during the last quarter. Lavaca Capital LLC boosted its holdings in Apple by 171.4% in the first quarter. Lavaca Capital LLC now owns 42,930 shares of the iPhone maker’s stock valued at $7,362,000 after purchasing an additional 27,111 shares during the last quarter. Caxton Associates LP boosted its holdings in Apple by 97.3% in the first quarter. Caxton Associates LP now owns 157,833 shares of the iPhone maker’s stock valued at $27,065,000 after purchasing an additional 77,819 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Apple by 1.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 822,174 shares of the iPhone maker’s stock valued at $140,986,000 after purchasing an additional 10,031 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Rosenblatt Securities increased their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays reduced their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Stock Up 1.0 %

AAPL opened at $253.48 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $253.83. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.83 trillion, a P/E ratio of 41.69, a P/E/G ratio of 2.41 and a beta of 1.23. The stock’s 50 day moving average price is $233.64 and its 200 day moving average price is $224.73.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the firm’s 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 sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is 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.