Sfmg LLC Has $47.29 Million Stake in Apple Inc. (NASDAQ:AAPL)

Sfmg LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,523 shares of the iPhone maker’s stock after selling 892 shares during the period. Apple comprises about 4.1% of Sfmg LLC’s holdings, making the stock its 7th largest position. Sfmg LLC’s holdings in Apple were worth $47,289,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Capital International Investors increased its position in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. American Century Companies Inc. lifted its holdings in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Jennison Associates LLC boosted its position in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Finally, Swedbank AB grew its stake in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, November 1st. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Melius Research reissued a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, Tigress Financial boosted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Down 1.2 %

AAPL opened at $224.23 on Tuesday. The business’s fifty day simple moving average is $226.82 and its 200 day simple moving average is $214.68. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.39 trillion, a PE ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24.

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

Apple Announces Dividend

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 issued 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 of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Apple news, 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 transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This 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 the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,746 shares of company stock worth $93,021,362 in the last 90 days. 0.06% of the stock is owned by company insiders.

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.