Apple Inc. (NASDAQ:AAPL) is Los Angeles Capital Management LLC’s 3rd Largest Position

Los Angeles Capital Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,151,228 shares of the iPhone maker’s stock after selling 133,427 shares during the period. Apple comprises approximately 6.9% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Los Angeles Capital Management LLC owned 0.06% of Apple worth $1,927,432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Access Investment Management LLC acquired a new position in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple during the 2nd quarter valued at approximately $206,000. Benchmark Wealth Management LLC acquired a new stake in Apple in the 2nd quarter valued at $208,000. Finally, Sequent Asset Management LLC purchased a new stake in Apple in the 2nd quarter worth $214,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents 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 available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were 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 in the company, valued at approximately $736,269,202.80. 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 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a research report on Wednesday, August 28th. Finally, Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Down 0.3 %

AAPL opened at $235.86 on Wednesday. The business has a 50 day simple moving average of $226.46 and a 200-day simple moving average of $209.33. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 36.68, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.