SignalPoint Asset Management LLC Sells 673 Shares of Apple Inc. (NASDAQ:AAPL)

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SignalPoint Asset Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,627 shares of the iPhone maker’s stock after selling 673 shares during the period. Apple accounts for about 5.2% of SignalPoint Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. SignalPoint Asset Management LLC’s holdings in Apple were worth $11,787,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. lifted its stake in shares of Apple by 17.9% during the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after purchasing an additional 1,262 shares in the last quarter. Avondale Wealth Management lifted its stake in shares of Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after purchasing an additional 64 shares in the last quarter. NuWave Investment Management LLC lifted its stake in shares of Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares in the last quarter. Horan Securities Inc. lifted its stake in shares of Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares in the last quarter. Finally, Belvedere Advisors LLC acquired a new position in shares of Apple during the second quarter worth about $119,000. Institutional investors and hedge funds own 58.65% of the company’s stock.

Shares of Apple stock opened at $240.51 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1,086.91 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.08 and a beta of 1.24. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $240.99. The business has a 50-day moving average price of $222.75 and a 200 day moving average price of $204.97.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. Apple’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 11.68 earnings per share for the current year.

In other Apple news, SVP Deirdre O’brien sold 12,459 shares of Apple stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $234.04, for a total value of $2,915,904.36. Following the completion of the transaction, the senior vice president now directly owns 57,819 shares in the company, valued at $13,531,958.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $232,101,423.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 450,140 shares of company stock valued at $95,606,404. 0.05% of the stock is currently owned by insiders.

A number of research analysts have commented on the company. Cowen set a $250.00 price objective on Apple and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Jaffray Companies set a $243.00 price objective on Apple and gave the stock a “buy” rating in a research note on Tuesday, October 8th. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Wedbush lifted their target price on Apple from $245.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $265.00 target price (up from $245.00) on shares of Apple in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $224.46.

About Apple

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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