Jensen Investment Management Inc. Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Jensen Investment Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,884,083 shares of the iPhone maker’s stock after selling 15,538 shares during the period. Apple makes up approximately 6.7% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Jensen Investment Management Inc.’s holdings in Apple were worth $818,066,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Verus Financial Partners Inc. boosted its holdings in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory lifted its position in shares of Apple by 3.8% during the 2nd 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 period. Core Wealth Management Inc. boosted its stake in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares in the last quarter. Lowery Thomas LLC grew its holdings in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in Apple by 1.1% in the second 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. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

AAPL opened at $236.48 on Tuesday. The company has a market capitalization of $3.63 trillion, a price-to-earnings ratio of 36.78, a PEG ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average price of $226.16 and a 200-day moving average price of $208.86. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. Loop Capital raised their target price on Apple to $300.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. UBS Group restated a “hold” rating and set a $236.00 price objective on shares of Apple in a report on Wednesday, October 16th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Tigress Financial upped their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple Company 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.