Apple Inc. (NASDAQ:AAPL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,026,940 shares of the iPhone maker’s stock after selling 67,370 shares during the quarter. Apple makes up about 2.3% of Victory Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Victory Capital Management Inc. owned 0.07% of Apple worth $2,322,494,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AAPL. Swedbank AB acquired a new position in shares of Apple during the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC increased its holdings in Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. Finally, Natixis grew its position in shares of Apple by 127.7% in the 1st quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock valued at $794,465,000 after acquiring an additional 2,598,742 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Apple stock opened at $236.48 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The stock has a market capitalization of $3.63 trillion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The stock has a fifty day moving average of $226.16 and a 200-day moving average of $208.86.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction 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 approximately $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 accessible through this hyperlink. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AAPL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Tigress Financial increased their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup reissued a “buy” rating and issued a $255.00 price objective on shares of Apple in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

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.