Hemenway Trust Co LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,664 shares of the iPhone maker's stock after selling 9,285 shares during the quarter. Apple comprises 5.0% of Hemenway Trust Co LLC's portfolio, making the stock its largest holding. Hemenway Trust Co LLC's holdings in Apple were worth $62,832,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. American Century Companies Inc. raised 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 valued at $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Apple by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker's stock valued at $8,035,283,000 after purchasing an additional 432,140 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on AAPL shares. Needham & Company LLC restated a "buy" rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday, December 10th. Wedbush raised their price target on Apple from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, December 26th. Loop Capital cut their price objective on Apple from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, November 4th. Maxim Group raised their price objective on Apple from $203.00 to $215.00 and gave the company a "hold" rating in a report on Friday, November 1st. Finally, Raymond James increased their price target on shares of Apple to $250.00 and gave the company a "buy" rating in a research report on Monday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $239.85.
Get Our Latest Stock Report on AAPL
Insider Activity
In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company's stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.
Apple Stock Up 0.8 %
Shares of NASDAQ:AAPL traded up $1.72 during trading on Monday, hitting $229.98. The stock had a trading volume of 68,239,505 shares, compared to its average volume of 41,481,172. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The company has a market capitalization of $3.48 trillion, a PE ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20. The firm's fifty day moving average is $241.01 and its 200 day moving average is $230.79.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. 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 posted $1.46 earnings per share. Analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio (DPR) is presently 16.45%.
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.
Further Reading
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