Apple Inc. (NASDAQ:AAPL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,783,683 shares of the iPhone maker’s stock after selling 222,520 shares during the period. Apple makes up about 7.3% of Intech Investment Management LLC’s holdings, making the stock its largest holding. Intech Investment Management LLC’s holdings in Apple were worth $586,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. Access Investment Management LLC acquired a new stake in shares of Apple during the first quarter worth about $140,000. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple in the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in shares of Apple in the second quarter valued at approximately $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday, October 25th. Cfra lifted their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Loop Capital lowered their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $227.48 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a 50-day simple moving average of $226.91 and a 200-day simple moving average of $213.51. The stock has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.18 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,746 shares of company stock valued at $93,021,362. 0.06% of the stock is owned by company 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.