Apple Inc. (NASDAQ:AAPL) Stake Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,187,087 shares of the iPhone maker’s stock after selling 9,770 shares during the quarter. Apple accounts for about 4.3% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its largest position. Mutual of America Capital Management LLC’s holdings in Apple were worth $360,651,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. St. James Investment Advisors LLC lifted its stake in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after acquiring an additional 117 shares during the period. Cheyne Capital Management UK LLP increased its holdings in shares of Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares in the last quarter. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. PayPay Securities Corp acquired a new position in Apple in the 4th quarter worth approximately $60,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Apple in the 4th quarter worth approximately $93,000. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Price Performance

AAPL opened at $180.19 on Tuesday. The stock has a fifty day moving average of $186.70 and a 200-day moving average of $172.53. The firm has a market capitalization of $2.82 trillion, a P/E ratio of 30.28, a PEG ratio of 2.60 and a beta of 1.28. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. During the same period in the prior year, the business posted $1.20 earnings per share. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple announced that its board has approved a share repurchase program on Thursday, May 4th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio (DPR) is 16.13%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. DA Davidson lowered Apple from a “buy” rating to a “neutral” rating and decreased their target price for the company from $193.00 to $185.00 in a research report on Monday, June 5th. Monness Crespi & Hardt raised their target price on Apple from $174.00 to $188.00 and gave the company a “buy” rating in a report on Friday, May 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Tigress Financial boosted their target price on Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. Finally, TD Cowen boosted their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Ten research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $198.86.

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.