Mutual of America Capital Management LLC Sells 74,401 Shares of Apple Inc. (NASDAQ:AAPL)

Mutual of America Capital Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,884,090 shares of the iPhone maker’s stock after selling 74,401 shares during the quarter. Apple makes up 4.3% of Mutual of America Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Mutual of America Capital Management LLC’s holdings in Apple were worth $396,827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Lumbard & Kellner LLC increased its stake in Apple by 13.8% in the second quarter. Lumbard & Kellner LLC now owns 15,235 shares of the iPhone maker’s stock valued at $3,209,000 after purchasing an additional 1,843 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Apple by 92.0% in the second quarter. Cranbrook Wealth Management LLC now owns 21,741 shares of the iPhone maker’s stock valued at $4,579,000 after purchasing an additional 10,419 shares during the period. L & S Advisors Inc grew its holdings in Apple by 11.4% in the second quarter. L & S Advisors Inc now owns 150,039 shares of the iPhone maker’s stock valued at $31,601,000 after purchasing an additional 15,359 shares during the period. Fairway Wealth LLC increased its position in Apple by 179.5% during the second quarter. Fairway Wealth LLC now owns 1,800 shares of the iPhone maker’s stock worth $379,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Firestone Capital Management raised its stake in Apple by 1.0% during the second quarter. Firestone Capital Management now owns 14,786 shares of the iPhone maker’s stock worth $3,114,000 after purchasing an additional 140 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock valued at $94,142,399 in the last quarter. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Citigroup boosted their price target on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday. Robert W. Baird lifted their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and upped their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $222.01 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.24. The firm’s 50 day simple moving average is $227.07 and its 200 day simple moving average is $213.03.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 145.09% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.48 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.