Carderock Capital Management Inc. Sells 362 Shares of Apple Inc. (NASDAQ:AAPL)

Carderock Capital Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,263 shares of the iPhone maker’s stock after selling 362 shares during the period. Apple comprises approximately 4.1% of Carderock Capital Management Inc.’s holdings, making the stock its largest holding. Carderock Capital Management Inc.’s holdings in Apple were worth $14,875,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Apple during the 4th quarter valued at about $560,388,000. Hudson Bay Capital Management LP bought a new position in Apple during the third quarter worth about $487,435,000. Barclays PLC boosted its holdings in Apple by 6.0% during the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after purchasing an additional 2,826,709 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of Apple in the 3rd quarter valued at approximately $461,021,000. Finally, Morgan Stanley raised its holdings in shares of Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after buying an additional 2,018,010 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock worth $63,653,887 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAPL. Piper Sandler Companies cut Apple to a “neutral” rating and lowered their price target for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 10th. JPMorgan Chase & Co. cut their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Monness Crespi & Hardt upped their price objective on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird lifted their target price on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Stock Up 0.6 %

Apple stock opened at $166.90 on Wednesday. The firm has a market capitalization of $2.58 trillion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.99 and a beta of 1.27. The company’s 50 day simple moving average is $173.88 and its 200 day simple moving average is $182.03. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a fifty-two week low of $162.80 and a fifty-two week high of $199.62.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period last year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

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.