Apple Inc. (NASDAQ:AAPL) Stake Trimmed by APG Asset Management N.V.

APG Asset Management N.V. lowered its position in Apple Inc. (NASDAQ:AAPL) by 8.4% during the second quarter, HoldingsChannel reports. The firm owned 13,381,791 shares of the iPhone maker’s stock after selling 1,221,638 shares during the period. Apple comprises 4.7% of APG Asset Management N.V.’s holdings, making the stock its 2nd biggest position. APG Asset Management N.V.’s holdings in Apple were worth $2,629,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new stake in shares of Apple during the 1st quarter worth about $140,000. Hoese & Co LLP grew its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at about $206,000. Benchmark Wealth Management LLC acquired a new position in Apple in the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AAPL. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Cfra boosted their price objective on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $224.23 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock’s fifty day simple moving average is $226.72 and its 200-day simple moving average is $215.06. The company has a market capitalization of $3.39 trillion, a P/E ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of the 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is owned by company insiders.

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.