Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 349,670 shares of the iPhone maker’s stock after selling 27,127 shares during the quarter. Apple comprises approximately 4.8% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 3rd biggest holding. MainStreet Investment Advisors LLC’s holdings in Apple were worth $49,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Financial Advisors LLC raised its holdings in shares of Apple by 2.8% in the 3rd quarter. American Financial Advisors LLC now owns 43,038 shares of the iPhone maker’s stock worth $6,090,000 after purchasing an additional 1,154 shares during the period. Argent Advisors Inc. raised its holdings in shares of Apple by 0.3% in the 3rd quarter. Argent Advisors Inc. now owns 31,201 shares of the iPhone maker’s stock worth $4,415,000 after purchasing an additional 79 shares during the period. Daniels&Tansey LLP raised its holdings in shares of Apple by 7.0% in the 3rd quarter. Daniels&Tansey LLP now owns 3,798 shares of the iPhone maker’s stock worth $537,000 after purchasing an additional 250 shares during the period. Vantage Financial Partners Ltd. Inc. raised its holdings in shares of Apple by 231.1% in the 3rd quarter. Vantage Financial Partners Ltd. Inc. now owns 12,264 shares of the iPhone maker’s stock worth $1,735,000 after purchasing an additional 8,560 shares during the period. Finally, Cardinal Point Wealth Management LLC raised its holdings in shares of Apple by 15.9% in the 3rd quarter. Cardinal Point Wealth Management LLC now owns 17,753 shares of the iPhone maker’s stock worth $2,512,000 after purchasing an additional 2,433 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

NASDAQ:AAPL opened at $173.07 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average is $167.84 and its two-hundred day moving average is $154.11. Apple Inc. has a 52 week low of $116.21 and a 52 week high of $182.94. The company has a market cap of $2.83 trillion, a PE ratio of 30.80, a P/E/G ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. The business had revenue of $83.40 billion for the quarter, compared to the consensus estimate of $84.94 billion. Apple had a return on equity of 144.13% and a net margin of 25.88%. The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. As a group, sell-side analysts expect that Apple Inc. will post 5.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 11th. Investors of record on Monday, November 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, November 5th. Apple’s dividend payout ratio (DPR) is 15.66%.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. set a $210.00 price objective on Apple and gave the stock an “overweight” rating in a report on Tuesday, December 14th. Tigress Financial increased their target price on Apple from $182.00 to $198.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 22nd. Evercore ISI upgraded Apple to a “top pick” rating and increased their target price for the company from $180.00 to $200.00 in a research note on Tuesday, December 14th. Fundamental Research increased their target price on Apple from $163.99 to $164.79 and gave the company a “buy” rating in a research note on Tuesday, November 23rd. Finally, DA Davidson increased their target price on Apple from $167.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, October 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $176.74.

In other Apple news, SVP Deirdre O’brien sold 18,247 shares of Apple stock in a transaction on Monday, October 18th. The stock was sold at an average price of $146.35, for a total transaction of $2,670,448.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 9,005 shares of Apple stock in a transaction on Friday, November 12th. The shares were sold at an average price of $150.00, for a total value of $1,350,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 218,081 shares of company stock worth $32,383,704. Company insiders own 0.06% of the company’s stock.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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