Allen Investment Management LLC Sells 6,155 Shares of Apple Inc. (NASDAQ:AAPL)

Allen Investment Management LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,755 shares of the iPhone maker’s stock after selling 6,155 shares during the period. Apple comprises about 0.7% of Allen Investment Management LLC’s portfolio, making the stock its 24th largest holding. Allen Investment Management LLC’s holdings in Apple were worth $61,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors boosted its holdings in shares of Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the period. American Century Companies Inc. boosted its holdings in Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the period. Jennison Associates LLC boosted its holdings in Apple by 1.7% in 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. Swedbank AB boosted its holdings 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Apple by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after purchasing an additional 2,594,138 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Apple Trading Down 1.3 %

NASDAQ:AAPL opened at $222.91 on Friday. The firm’s fifty day moving average is $227.18 and its 200-day moving average is $212.03. 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 firm has a market cap of $3.39 trillion, a P/E ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.15. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. Equities analysts expect that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, November 11th. Apple’s dividend payout ratio is presently 15.22%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price objective (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.23.

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.