Apple Inc. (NASDAQ:AAPL) Shares Sold by JPB Foundation

JPB Foundation reduced its position in Apple Inc. (NASDAQ:AAPL) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 850,737 shares of the iPhone maker’s stock after selling 171,000 shares during the quarter. Apple comprises about 19.2% of JPB Foundation’s investment portfolio, making the stock its biggest position. JPB Foundation’s holdings in Apple were worth $179,182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new position in shares of Apple during the first quarter worth about $140,000. Hoese & Co LLP grew its position 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 acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple during the second quarter valued at approximately $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in Apple during the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 1.2 %

Shares of NASDAQ:AAPL opened at $224.23 on Tuesday. The company has a 50 day moving average of $226.82 and a 200-day moving average of $214.68. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.39 trillion, a P/E ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company posted $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This 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 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays lowered their price objective 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 reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Two investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.51.

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.