Apple Inc. (NASDAQ:AAPL) is AR Asset Management Inc.’s Largest Position

AR Asset Management Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,008 shares of the iPhone maker’s stock after selling 7,205 shares during the period. Apple makes up approximately 13.2% of AR Asset Management Inc.’s holdings, making the stock its biggest position. AR Asset Management Inc.’s holdings in Apple were worth $54,763,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB bought a new stake in Apple in the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC increased its holdings in Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Apple by 158.3% during the 1st 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 during the last quarter. Lazard Asset Management LLC grew its position in shares of Apple by 161.2% during the 1st 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 period. Finally, William Blair Investment Management LLC purchased a new stake in shares of Apple in the 2nd quarter worth $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 2.1 %

AAPL opened at $227.48 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a fifty day moving average price of $226.91 and a 200-day moving average price of $213.51. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.18 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly 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. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Finally, Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insiders Place Their Bets

In related news, CFO Luca Maestri sold 59,305 shares of the firm’s 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 owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 59,305 shares of the business’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 value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 412,746 shares of company stock valued at $93,021,362. Insiders own 0.06% of the company’s stock.

Apple 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.