Apple Inc. (NASDAQ:AAPL) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,159,859 shares of the iPhone maker’s stock after selling 27,088 shares during the quarter. Apple makes up approximately 4.6% of New York Life Investment Management LLC’s portfolio, making the stock its 2nd largest holding. New York Life Investment Management LLC’s holdings in Apple were worth $454,910,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Addison Advisors LLC increased its position in Apple by 1.3% during the 2nd quarter. Addison Advisors LLC now owns 28,725 shares of the iPhone maker’s stock worth $6,050,000 after purchasing an additional 382 shares in the last quarter. Artemis Wealth Advisors LLC boosted its stake in shares of Apple by 24.7% during the 2nd quarter. Artemis Wealth Advisors LLC now owns 48,809 shares of the iPhone maker’s stock worth $10,280,000 after purchasing an additional 9,680 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Apple by 0.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 462,890 shares of the iPhone maker’s stock worth $97,494,000 after buying an additional 1,319 shares in the last quarter. Synergy Asset Management LLC raised its position in shares of Apple by 3.8% in the second quarter. Synergy Asset Management LLC now owns 118,904 shares of the iPhone maker’s stock valued at $25,044,000 after buying an additional 4,365 shares during the last quarter. Finally, Slocum Gordon & Co LLP boosted its position in Apple by 3.6% during the second quarter. Slocum Gordon & Co LLP now owns 8,536 shares of the iPhone maker’s stock worth $1,798,000 after acquiring an additional 300 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.6 %

Shares of AAPL opened at $236.48 on Tuesday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The stock has a 50-day moving average price of $226.16 and a 200 day moving average price of $208.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.63 trillion, a P/E ratio of 36.78, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. Sell-side analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. UBS Group reiterated a “hold” rating and set a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Barclays restated an “underweight” rating and issued a $186.00 price target on shares of Apple in a report on Tuesday, October 1st. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Finally, Maxim Group reaffirmed a “hold” rating and set a $203.00 price target on shares of Apple in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Apple Profile

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.