AMI Investment Management Inc. Sells 393 Shares of Apple Inc. (NASDAQ:AAPL)

AMI Investment Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,093 shares of the iPhone maker’s stock after selling 393 shares during the period. AMI Investment Management Inc.’s holdings in Apple were worth $2,585,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Capital International Investors lifted its stake in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. American Century Companies Inc. boosted its holdings in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.3 %

Shares of NASDAQ AAPL opened at $229.00 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50-day moving average of $227.47 and a two-hundred day moving average of $217.40.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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 net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the business earned $1.46 EPS. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital reduced their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Tigress Financial raised their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 10.87 % 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 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

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.