Apple Inc. (NASDAQ:AAPL) Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,620,052 shares of the iPhone maker’s stock after selling 166,904 shares during the quarter. Apple makes up 1.7% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 3rd biggest position. Allspring Global Investments Holdings LLC’s holdings in Apple were worth $1,076,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hershey Financial Advisers LLC purchased a new stake in Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. raised its position in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares in the last quarter. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new stake in Apple during the second quarter valued at about $206,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple 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 in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.1 %

AAPL stock opened at $248.13 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $250.80. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm’s fifty day moving average is $232.50 and its 200 day moving average is $223.64. The firm has a market cap of $3.75 trillion, a PE ratio of 40.81, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business 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 company posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed 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 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities boosted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Finally, Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. 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 stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $236.78.

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.