Anderson Hoagland & Co. Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Anderson Hoagland & Co. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the third quarter, HoldingsChannel.com reports. The firm owned 153,704 shares of the iPhone maker’s stock after selling 492 shares during the period. Apple accounts for about 3.6% of Anderson Hoagland & Co.’s investment portfolio, making the stock its 5th largest holding. Anderson Hoagland & Co.’s holdings in Apple were worth $34,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. raised its position 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 buying an additional 48 shares during the last quarter. Brown Financial Advisory increased its holdings in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. grew its stake in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC grew its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its holdings in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Barclays reduced their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple Stock Performance

NASDAQ AAPL opened at $229.87 on Monday. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. 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 company has a 50-day simple moving average of $227.73 and a two-hundred day simple moving average of $218.30.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 16.45%.

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.