Greenwood Capital Associates LLC Sells 1,645 Shares of Apple Inc. (NASDAQ:AAPL)
Greenwood Capital Associates LLC lessened its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 145,398 shares of the iPhone maker’s stock after selling 1,645 shares during the period. Apple comprises about 4.7% of Greenwood Capital Associates LLC’s investment portfolio, making the stock its largest position. Greenwood Capital Associates LLC’s holdings in Apple were worth $36,410,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Drystone LLC acquired a new position in Apple in the fourth quarter valued at $25,000. Bull Oak Capital LLC grew its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the 3rd quarter valued at about $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple in the 3rd quarter valued at about $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock worth $40,818,720 over the last three months. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on AAPL shares. UBS Group lifted their target price on Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Raymond James increased their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Finally, Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.26.
Read Our Latest Stock Analysis on Apple
Apple Stock Performance
Shares of Apple stock opened at $203.19 on Friday. The business’s fifty day simple moving average is $230.14 and its 200 day simple moving average is $233.15. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The firm has a market capitalization of $3.05 trillion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.
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.
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