Paradigm Financial Advisors LLC Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Paradigm Financial Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,400 shares of the iPhone maker’s stock after selling 13,422 shares during the period. Apple comprises 7.0% of Paradigm Financial Advisors LLC’s portfolio, making the stock its largest holding. Paradigm Financial Advisors LLC’s holdings in Apple were worth $18,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Ocean LLC grew its stake in Apple by 977.7% during the third quarter. Private Ocean LLC now owns 50,642 shares of the iPhone maker’s stock valued at $11,343,000 after acquiring an additional 45,943 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Apple by 3.1% during the third quarter. Eagle Asset Management Inc. now owns 84,356 shares of the iPhone maker’s stock valued at $18,893,000 after acquiring an additional 2,511 shares in the last quarter. Macroview Investment Management LLC grew its stake in Apple by 90.9% during the third quarter. Macroview Investment Management LLC now owns 1,434 shares of the iPhone maker’s stock valued at $321,000 after acquiring an additional 683 shares in the last quarter. CNB Bank grew its stake in Apple by 5.0% during the third quarter. CNB Bank now owns 11,066 shares of the iPhone maker’s stock valued at $2,478,000 after acquiring an additional 523 shares in the last quarter. Finally, Biltmore Capital Advisors LLC grew its stake in Apple by 67.0% during the third quarter. Biltmore Capital Advisors LLC now owns 30,030 shares of the iPhone maker’s stock valued at $6,726,000 after acquiring an additional 12,043 shares in the last quarter. 59.62% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on AAPL. Royal Bank of Canada set a $295.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday. Cascend Securities raised their target price on shares of Apple from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. New Street Research set a $155.00 target price on shares of Apple and gave the company a “sell” rating in a research note on Tuesday, September 10th. Citigroup raised their target price on shares of Apple from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group set a $285.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Monday, October 28th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $244.54.

In other Apple news, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the sale, the director now owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 448,158 shares of company stock worth $97,019,630. 0.05% of the stock is owned by insiders.

Shares of AAPL opened at $265.76 on Friday. The company has a 50-day moving average of $240.62 and a 200 day moving average of $211.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $265.78. The firm has a market capitalization of $1,166.98 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.87 and a beta of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. During the same quarter in the previous year, the firm earned $2.91 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 13.17 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, November 7th. Apple’s dividend payout ratio is presently 25.90%.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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