Apple Inc. (NASDAQ:AAPL) is Logan Capital Management Inc.’s Largest Position

Logan Capital Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 3.6% in the third quarter, HoldingsChannel.com reports. The firm owned 675,158 shares of the iPhone maker’s stock after selling 24,869 shares during the quarter. Apple comprises about 6.5% of Logan Capital Management Inc.’s investment portfolio, making the stock its largest holding. Logan Capital Management Inc.’s holdings in Apple were worth $157,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in Apple in the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter valued at approximately $110,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their target price on shares of Apple from $280.00 to $294.00 and gave the company a “buy” rating in a report on Friday, January 31st. Raymond James raised their price target on Apple to $250.00 and gave the stock a “buy” rating in a report on Monday, January 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 price objective on shares of Apple in a research note on Monday, January 27th. Finally, Barclays lifted their target price on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $242.52.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.3 %

Shares of NASDAQ AAPL opened at $244.60 on Friday. The firm’s 50-day moving average is $240.70 and its two-hundred day moving average is $231.59. The company has a market capitalization of $3.67 trillion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

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.