Gimbal Financial Trims Holdings in Apple Inc. $AAPL

Gimbal Financial lessened its stake in Apple Inc. (NASDAQ:AAPL) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,895 shares of the iPhone maker’s stock after selling 252 shares during the period. Apple comprises about 0.5% of Gimbal Financial’s investment portfolio, making the stock its 16th largest position. Gimbal Financial’s holdings in Apple were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its stake in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC increased its stake in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the sale, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 228,052 shares of company stock worth $58,604,588 in the last three months. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Wall Street Zen lowered Apple from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $315.00 target price (up from $245.00) on shares of Apple in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Up 2.0%

AAPL opened at $271.49 on Friday. The stock’s 50 day moving average price is $259.49 and its 200 day moving average price is $228.92. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $4.01 trillion, a P/E ratio of 41.20, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

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.