King Luther Capital Management Corp Has $1.28 Billion Stock Holdings in Apple Inc. (NASDAQ:AAPL)

King Luther Capital Management Corp lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,067,736 shares of the iPhone maker’s stock after selling 55,503 shares during the quarter. Apple makes up approximately 5.8% of King Luther Capital Management Corp’s portfolio, making the stock its 2nd largest holding. King Luther Capital Management Corp’s holdings in Apple were worth $1,277,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC purchased a new stake in Apple in the first quarter valued at approximately $140,000. Hoese & Co LLP raised its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple during the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in shares of Apple during the second quarter worth approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’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 value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Luca Maestri sold 59,305 shares of the company’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 sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,746 shares of company stock worth $93,021,362 in the last three months. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Citigroup raised their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Trading Down 0.1 %

Apple stock opened at $226.96 on Friday. The business has a 50-day simple moving average of $226.82 and a two-hundred day simple moving average of $214.03. The company has a market cap of $3.43 trillion, a P/E ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. Analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 16.45%.

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.