Corundum Trust Company INC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 26.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,349 shares of the iPhone maker's stock after selling 2,958 shares during the quarter. Apple makes up approximately 5.4% of Corundum Trust Company INC's portfolio, making the stock its 6th largest position. Corundum Trust Company INC's holdings in Apple were worth $1,945,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Dimensional Fund Advisors LP boosted its holdings in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. American Century Companies Inc. lifted its stake in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker's stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Swedbank AB boosted its holdings in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker's stock valued at $4,214,222,000 after acquiring an additional 2,359,409 shares during the period. Finally, TD Asset Management Inc grew its holdings in shares of Apple by 10.3% in the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker's stock worth $3,526,874,000 after purchasing an additional 1,557,848 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the company a "buy" rating in a report on Monday, December 9th. Barclays lowered their price objective on Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday, November 1st. Evercore ISI reissued a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Maxim Group raised their price target on shares of Apple from $203.00 to $215.00 and gave the company a "hold" rating in a report on Friday, November 1st. Finally, Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $236.78.
Check Out Our Latest Research Report on Apple
Insider Activity
In related news, SVP Katherine L. Adams sold 61,019 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company's stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company's stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 in the last quarter. Insiders own 0.06% of the company's stock.
Apple Stock Performance
AAPL traded up $4.70 during trading on Friday, reaching $254.49. 145,580,875 shares of the company's stock were exchanged, compared to its average volume of 57,671,145. The company's fifty day simple moving average is $234.97 and its 200-day simple moving average is $225.48. The stock has a market capitalization of $3.85 trillion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $255.00.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple's payout ratio is 16.45%.
About Apple
(
Free Report)
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.
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