Infusive Asset Management Inc. Sells 8,499 Shares of Apple Inc. (NASDAQ:AAPL)

Infusive Asset Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 21.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,284 shares of the iPhone maker’s stock after selling 8,499 shares during the period. Apple accounts for approximately 2.9% of Infusive Asset Management Inc.’s holdings, making the stock its 11th biggest position. Infusive Asset Management Inc.’s holdings in Apple were worth $7,056,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. FMR LLC grew its stake in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings in Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock valued at $1,302,607,000 after acquiring an additional 5,566,250 shares during the period. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $211.84 to $200.75 in a report on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 price target on shares of Apple in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein increased their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $242.52.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the business’s 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 completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $233.22 on Friday. The business’s 50-day simple moving average is $241.49 and its 200 day simple moving average is $230.96. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.51 trillion, a PE ratio of 37.02, a PEG ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts expect that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

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.