Yoder Wealth Management Inc. Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Yoder Wealth Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.8% in the third quarter, Holdings Channel.com reports. The firm owned 49,220 shares of the iPhone maker’s stock after selling 4,735 shares during the quarter. Apple makes up 6.9% of Yoder Wealth Management Inc.’s holdings, making the stock its largest holding. Yoder Wealth Management Inc.’s holdings in Apple were worth $11,468,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AAPL. International Assets Investment Management LLC lifted its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. American Century Companies Inc. boosted its position in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB increased its position in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock opened at $254.49 on Monday. 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 firm has a market capitalization of $3.85 trillion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $255.00. The company’s 50-day moving average is $234.97 and its 200 day moving average is $225.70.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. Research analysts forecast 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Apple in a research note on Friday, November 29th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Melius Research reiterated a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, Tigress Financial increased their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

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.