Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,490,131 shares of the iPhone maker’s stock after selling 944,876 shares during the quarter. Apple makes up 5.5% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its largest holding. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Apple worth $6,701,336,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC increased its position in shares of Apple by 42.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock valued at $40,993,000 after purchasing an additional 89,865 shares during the last quarter. Emerald Advisors LLC increased its holdings in Apple by 2.4% in the 2nd quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock worth $2,721,000 after acquiring an additional 465 shares during the last quarter. Eagle Bay Advisors LLC increased its holdings in Apple by 35.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after acquiring an additional 6,735 shares during the last quarter. Callan Capital LLC increased its holdings in Apple by 1.6% in the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after acquiring an additional 1,322 shares during the last quarter. Finally, Sageworth Trust Co increased its holdings in Apple by 150.3% in the 2nd quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock worth $793,000 after acquiring an additional 3,482 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $134.76 on Monday. The business has a 50 day moving average of $139.33 and a 200 day moving average of $148.32. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.74 and a beta of 1.24. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. Apple’s dividend payout ratio (DPR) is currently 15.06%.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AAPL shares. Fundamental Research lifted their price objective on Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. KeyCorp reissued a “buy” rating and issued a $175.00 price objective on shares of Apple in a report on Tuesday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, November 8th. Sanford C. Bernstein decreased their price objective on Apple from $170.00 to $125.00 in a report on Monday, January 9th. Finally, Rosenblatt Securities reduced their target price on Apple from $189.00 to $165.00 and set a “buy” rating for the company in a report on Friday. Two investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $171.22.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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