Apple Inc. (NASDAQ:AAPL) Position Reduced by Guinness Asset Management LTD

Guinness Asset Management LTD cut its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,636 shares of the iPhone maker’s stock after selling 2,330 shares during the quarter. Guinness Asset Management LTD’s holdings in Apple were worth $16,534,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Apple by 2.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after acquiring an additional 4,831,418 shares in the last quarter. Legal & General Group Plc raised its position in Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after acquiring an additional 9,411,018 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Apple by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after purchasing an additional 8,716,964 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.9 %

Shares of NASDAQ AAPL opened at $137.87 on Friday. The stock has a market cap of $2.18 trillion, a PE ratio of 22.56, a PEG ratio of 1.74 and a beta of 1.24. The business has a fifty day moving average of $138.72 and a two-hundred day moving average of $148.09. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.67%. Apple’s dividend payout ratio is 15.06%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. National Bank Financial lowered their price target on Apple to $54.00 and set an “outperform” rating on the stock in a report on Friday. Robert W. Baird lowered their price target on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. KeyCorp reiterated a “buy” rating and set a $175.00 price target on shares of Apple in a report on Tuesday, November 8th. Rosenblatt Securities lowered their price target on Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, January 13th. Finally, UBS Group set a $180.00 price target on Apple in a report on Thursday, January 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.73.

Insider Activity at Apple

In related news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Company 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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