Apple Inc. (NASDAQ:AAPL) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,270 shares of the iPhone maker’s stock after selling 1,101 shares during the quarter. Apple makes up 4.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 4th largest holding. Groesbeck Investment Management Corp NJ’s holdings in Apple were worth $3,073,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Drystone LLC acquired a new position in Apple during the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC boosted its holdings in shares of 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 buying an additional 111 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America bought a new position in Apple in the 3rd quarter worth $77,000. Finally, ARK Investment Management LLC acquired a new position in Apple during the 3rd quarter worth $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,451 shares of company stock valued at $40,818,720. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. UBS Group increased their target price on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Maxim Group raised their price objective on shares of Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Bank of America dropped their price objective on shares of Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.26.

Apple Price Performance

Shares of NASDAQ AAPL opened at $188.38 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average price is $229.45 and its two-hundred day moving average price is $232.96. The company has a market cap of $2.83 trillion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts predict 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. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

Apple Company 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.