Strategic Investment Solutions Inc. IL Trims Stake in Apple Inc. (NASDAQ:AAPL)

Strategic Investment Solutions Inc. IL decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the 3rd quarter, Holdings Channel reports. The firm owned 52,811 shares of the iPhone maker’s stock after selling 54 shares during the quarter. Apple accounts for about 3.7% of Strategic Investment Solutions Inc. IL’s portfolio, making the stock its 7th largest holding. Strategic Investment Solutions Inc. IL’s holdings in Apple were worth $12,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Bull Oak Capital LLC grew its stake in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Cordant Inc. increased its stake in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple during the 2nd quarter valued at $206,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,170 shares of company stock worth $117,004,745. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.1 %

NASDAQ:AAPL opened at $258.20 on Wednesday. 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’s 50 day moving average is $235.45 and its 200 day moving average is $226.34. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $258.21. The stock has a market capitalization of $3.90 trillion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Sell-side analysts expect 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. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Finally, UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $236.78.

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.