Handelsbanken Fonder AB decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,493,213 shares of the iPhone maker's stock after selling 94,614 shares during the period. Apple accounts for 6.0% of Handelsbanken Fonder AB's investment portfolio, making the stock its largest holding. Handelsbanken Fonder AB's holdings in Apple were worth $1,512,919,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in AAPL. Verus Financial Partners Inc. raised its position in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker's stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory boosted its holdings in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker's stock valued at $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. grew its holdings in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker's stock worth $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC grew its stake in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker's stock worth $1,602,000 after buying an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. increased its holdings in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker's stock valued at $949,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company's stock.
Apple Trading Down 0.2 %
NASDAQ AAPL opened at $228.44 on Friday. The firm's fifty day simple moving average is $227.59 and its 200-day simple moving average is $217.47. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a market capitalization of $3.45 trillion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.
Insider Buying and Selling at Apple
In related news, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last three months. Corporate insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on AAPL. JPMorgan Chase & Co. reissued an "overweight" rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Wedbush reiterated an "outperform" rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. KeyCorp downgraded Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the company a "strong-buy" rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and boosted their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.25.
Check Out Our Latest Stock Analysis on AAPL
Apple Profile
(
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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