Apple Inc. (NASDAQ:AAPL) Shares Sold by Schubert & Co

Schubert & Co reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 20.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,452 shares of the iPhone maker’s stock after selling 19,617 shares during the period. Apple makes up about 13.0% of Schubert & Co’s investment portfolio, making the stock its 2nd biggest position. Schubert & Co’s holdings in Apple were worth $18,279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the period. Ameriprise Financial Inc. raised its stake in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the period. Capital International Investors lifted its holdings in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. American Century Companies Inc. grew its stake in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Finally, Swedbank AB increased its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s 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 $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $247.96 on Friday. The company has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.42 and a beta of 1.23. 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 Inc. has a 12 month low of $164.07 and a 12 month high of $250.80. The stock’s 50 day moving average is $231.63 and its 200-day moving average is $222.83.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio 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.