Heritage Investors Management Corp Has $170.51 Million Position in Apple Inc. (NASDAQ:AAPL)

Heritage Investors Management Corp decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 731,786 shares of the iPhone maker’s stock after selling 13,190 shares during the quarter. Apple accounts for about 5.7% of Heritage Investors Management Corp’s investment portfolio, making the stock its largest position. Heritage Investors Management Corp’s holdings in Apple were worth $170,505,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the period. Pathway Financial Advisers LLC grew its position 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 worth $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Apple during the 2nd quarter valued at $834,368,000. Finally, National Pension Service raised its stake in Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock valued at $6,496,738,000 after purchasing an additional 3,416,922 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AAPL shares. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Citigroup increased their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.64.

Apple Stock Up 0.2 %

AAPL opened at $242.70 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a 50 day moving average of $239.91 and a 200-day moving average of $229.75. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 2.41 and a beta of 1.20. 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 posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.