Apple Inc. (NASDAQ:AAPL) Position Lowered by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,050 shares of the iPhone maker’s stock after selling 434 shares during the period. Apple comprises about 2.2% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 15th biggest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Apple were worth $2,807,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Granite Investment Partners LLC raised its stake in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp raised its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC raised its stake in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the period. GAMMA Investing LLC raised its stake in Apple by 34.9% during the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after acquiring an additional 51,842 shares during the period. Finally, Bellwether Advisors LLC raised its stake in Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.1 %

Shares of NASDAQ AAPL opened at $234.93 on Thursday. The company’s 50 day simple moving average is $228.71 and its 200 day simple moving average is $219.12. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

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, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Bank of America restated a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Monday. Finally, KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $235.25.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

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.