Klingenstein Fields & Co. LP Sells 4,579 Shares of Apple Inc. (NASDAQ:AAPL)

Klingenstein Fields & Co. LP reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383,031 shares of the iPhone maker's stock after selling 4,579 shares during the period. Apple comprises approximately 3.9% of Klingenstein Fields & Co. LP's portfolio, making the stock its 4th largest position. Klingenstein Fields & Co. LP's holdings in Apple were worth $95,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Drystone LLC acquired a new position in Apple during the fourth quarter worth approximately $25,000. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple during the third quarter worth about $77,000. Finally, ARK Investment Management LLC acquired a new position in Apple in the 3rd quarter valued at about $110,000. 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 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by company insiders.

Apple Trading Up 1.3 %

NASDAQ:AAPL traded up $2.52 on Friday, reaching $196.79. The stock had a trading volume of 51,328,536 shares, compared to its average volume of 56,825,645. Apple Inc. has a 12-month low of $164.77 and a 12-month high of $260.10. The company has a market cap of $2.96 trillion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The firm's fifty day moving average is $219.65 and its two-hundred day moving average is $230.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple's payout ratio is 15.87%.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. DA Davidson cut their price target on Apple from $290.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Oppenheimer downgraded shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 target price on shares of Apple in a report on Monday, April 14th. Maxim Group boosted their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Finally, Citigroup reduced their price objective on shares of Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $235.85.

About Apple

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.