Apple Inc. (NASDAQ:AAPL) Shares Purchased by Eagle Ridge Investment Management

Eagle Ridge Investment Management raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,485 shares of the iPhone maker’s stock after buying an additional 279 shares during the period. Eagle Ridge Investment Management’s holdings in Apple were worth $11,763,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AAPL. Carolina Wealth Advisors LLC increased its holdings in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares in the last quarter. Verus Financial Partners Inc. increased its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory increased its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its holdings in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC boosted its position in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.9 %

Shares of AAPL opened at $254.49 on Monday. The stock’s fifty day simple moving average is $234.97 and its 200 day simple moving average is $225.70. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. 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 (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio is currently 16.45%.

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.