Apple Inc. (NASDAQ:AAPL) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 726,864 shares of the iPhone maker’s stock after selling 4,700 shares during the period. Apple accounts for about 5.3% of New Mexico Educational Retirement Board’s portfolio, making the stock its 3rd largest holding. New Mexico Educational Retirement Board’s holdings in Apple were worth $153,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allied Investment Advisors LLC lifted its position in shares of Apple by 2.7% during the first quarter. Allied Investment Advisors LLC now owns 82,976 shares of the iPhone maker’s stock worth $14,229,000 after purchasing an additional 2,166 shares in the last quarter. Capital CS Group LLC increased its stake in shares of Apple by 111.6% during the first quarter. Capital CS Group LLC now owns 4,762 shares of the iPhone maker’s stock worth $817,000 after buying an additional 45,729 shares during the period. First Affirmative Financial Network raised its holdings in Apple by 8.4% in the first quarter. First Affirmative Financial Network now owns 21,997 shares of the iPhone maker’s stock valued at $3,772,000 after acquiring an additional 1,700 shares in the last quarter. Ballew Advisors Inc lifted its stake in Apple by 2.5% in the first quarter. Ballew Advisors Inc now owns 7,842 shares of the iPhone maker’s stock worth $1,316,000 after acquiring an additional 191 shares during the last quarter. Finally, Meyer Handelman Co. grew its holdings in Apple by 16.0% during the 1st quarter. Meyer Handelman Co. now owns 604,207 shares of the iPhone maker’s stock worth $103,609,000 after acquiring an additional 83,222 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 2.2 %

Shares of Apple stock opened at $230.76 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market capitalization of $3.54 trillion, a P/E ratio of 35.89, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a 50 day moving average price of $226.64 and a 200 day moving average price of $209.48. 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 posted its quarterly earnings data 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. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is currently 15.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Moffett Nathanson assumed coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.27.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

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.