Shell Asset Management Co. Sells 80,098 Shares of Apple Inc. (NASDAQ:AAPL)

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Shell Asset Management Co. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,595,439 shares of the iPhone maker’s stock after selling 80,098 shares during the quarter. Apple comprises 5.1% of Shell Asset Management Co.’s portfolio, making the stock its 2nd largest holding. Shell Asset Management Co.’s holdings in Apple were worth $225,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Apple during the second quarter worth $27,000. Milestone Resources Group Ltd grew its position in Apple by 92.6% during the third quarter. Milestone Resources Group Ltd now owns 416 shares of the iPhone maker’s stock worth $59,000 after buying an additional 200 shares in the last quarter. Navigation Wealth Management Inc. lifted its stake in Apple by 21.3% during the third quarter. Navigation Wealth Management Inc. now owns 478 shares of the iPhone maker’s stock worth $68,000 after purchasing an additional 84 shares during the period. Newfound Research LLC bought a new position in Apple during the third quarter worth about $77,000. Finally, NuWave Investment Management LLC raised its stake in shares of Apple by 43.5% in the third quarter. NuWave Investment Management LLC now owns 594 shares of the iPhone maker’s stock valued at $84,000 after acquiring an additional 180 shares during the last quarter. 56.40% of the stock is owned by hedge funds and other institutional investors.

Shares of AAPL stock opened at $172.17 on Friday. The company has a market cap of $2.82 trillion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1-year low of $116.21 and a 1-year high of $182.94. The stock has a 50 day simple moving average of $165.08 and a 200-day simple moving average of $152.45.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 11th. Stockholders of record on Monday, November 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, November 5th. Apple’s dividend payout ratio (DPR) is presently 15.66%.

In other Apple news, SVP Deirdre O’brien sold 18,247 shares of Apple stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $146.35, for a total value of $2,670,448.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 9,005 shares of Apple stock in a transaction that occurred 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. Insiders have sold a total of 218,081 shares of company stock worth $32,383,704 in the last three months. Corporate insiders own 0.06% of the company’s stock.

A number of research firms have commented on AAPL. DA Davidson lifted their target price on shares of Apple from $167.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, October 19th. DZ Bank reaffirmed a “buy” rating on shares of Apple in a report on Monday, December 13th. The Goldman Sachs Group set a $142.00 price target on shares of Apple in a research note on Wednesday. Barclays increased their price target on shares of Apple from $142.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. Finally, Jefferies Financial Group assumed coverage on shares of Apple in a research note on Monday, September 13th. They issued a “buy” rating and a $175.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Buy” and an average price target of $173.06.

Apple Profile

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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