Apple Inc. (NASDAQ:AAPL) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,532,961 shares of the iPhone maker’s stock after selling 97,984 shares during the quarter. Apple comprises approximately 4.7% of State of Alaska Department of Revenue’s holdings, making the stock its largest position. State of Alaska Department of Revenue’s holdings in Apple were worth $350,054,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. IFM Investors Pty Ltd lifted its stake in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after buying an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in shares of Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after buying an additional 1,040 shares during the last quarter. Markel Corp lifted its stake in shares of Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after buying an additional 8,450 shares during the last quarter. Camden Capital LLC lifted its stake in shares of Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after buying an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC lifted its stake in shares of Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after buying an additional 400 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AAPL shares. Barclays reduced their price objective on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. set a $190.00 target price on shares of Apple in a research note on Monday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a research note on Tuesday, November 8th. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and cut their target price for the company from $189.00 to $160.00 in a research note on Friday, September 30th. Finally, Fundamental Research upped their target price on shares of Apple to $168.50 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.22.

Apple Stock Up 1.0 %

Shares of NASDAQ AAPL opened at $134.76 on Friday. The firm’s 50-day simple moving average is $139.33 and its 200 day simple moving average is $148.25. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. Apple’s payout ratio is presently 15.06%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,552 shares of company stock worth $31,645,123. Company insiders own 0.06% of the company’s stock.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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