Smith Anglin Financial LLC Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Smith Anglin Financial LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,358 shares of the iPhone maker’s stock after selling 269 shares during the period. Apple comprises approximately 3.4% of Smith Anglin Financial LLC’s portfolio, making the stock its 11th largest position. Smith Anglin Financial LLC’s holdings in Apple were worth $16,357,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AAPL. Legal & General Group Plc lifted its position in shares of Apple by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after purchasing an additional 9,411,018 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Apple by 12.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after purchasing an additional 8,716,964 shares during the last quarter. Swiss National Bank lifted its position in shares of Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the last quarter. Finally, Verity Asset Management Inc. lifted its position in shares of Apple by 29,097.9% during the 1st quarter. Verity Asset Management Inc. now owns 5,300,881 shares of the iPhone maker’s stock worth $189,000 after purchasing an additional 5,282,726 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. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The company has a market capitalization of $2.18 trillion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s 50-day moving average is $138.72 and its two-hundred day moving average is $148.09.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating 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 company 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 firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and reduced their price target for the company from $189.00 to $160.00 in a research report on Friday, September 30th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Tuesday, November 8th. Rosenblatt Securities reduced their price target on shares of Apple from $189.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Finally, Sanford C. Bernstein reduced their price target on shares of Apple from $170.00 to $125.00 in a research report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.73.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 176,299 shares of the company’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 transaction of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, 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 transaction, the insider now 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 SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was 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 disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Apple

(Get Rating)

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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