Amalgamated Bank Has $654.02 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Amalgamated Bank trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,105,232 shares of the iPhone maker’s stock after selling 50,287 shares during the quarter. Apple comprises approximately 5.6% of Amalgamated Bank’s investment portfolio, making the stock its 2nd biggest position. Amalgamated Bank’s holdings in Apple were worth $654,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Searcy Financial Services Inc. ADV boosted its position in shares of Apple by 2.6% in the first quarter. Searcy Financial Services Inc. ADV now owns 49,490 shares of the iPhone maker’s stock valued at $8,487,000 after acquiring an additional 1,241 shares during the period. Griffin Asset Management Inc. raised its stake in Apple by 2.6% in the first quarter. Griffin Asset Management Inc. now owns 197,080 shares of the iPhone maker’s stock valued at $33,795,000 after purchasing an additional 4,980 shares in the last quarter. Grimes & Company Inc. raised its stake in Apple by 9.5% in the first quarter. Grimes & Company Inc. now owns 446,017 shares of the iPhone maker’s stock valued at $76,483,000 after purchasing an additional 38,608 shares in the last quarter. Meritas Wealth Management LLC raised its stake in Apple by 0.4% in the first quarter. Meritas Wealth Management LLC now owns 41,527 shares of the iPhone maker’s stock valued at $7,121,000 after purchasing an additional 150 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. raised its stake in Apple by 0.8% in the first quarter. Investment Research & Advisory Group Inc. now owns 86,035 shares of the iPhone maker’s stock valued at $14,753,000 after purchasing an additional 690 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Stock Up 0.6 %

AAPL stock opened at $223.45 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The business’s 50-day moving average is $226.98 and its two-hundred day moving average is $213.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 2.39 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.45 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Barclays lowered their target price on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,924 shares of company stock worth $94,142,399. 0.06% of the stock is owned by corporate insiders.

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.