Northeast Investment Management Has $138.46 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Northeast Investment Management decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,829 shares of the iPhone maker’s stock after selling 18,673 shares during the quarter. Apple makes up 7.8% of Northeast Investment Management’s portfolio, making the stock its largest position. Northeast Investment Management’s holdings in Apple were worth $138,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC grew its position in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $21,746,940,000. Morgan Stanley lifted its stake in shares of Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after purchasing an additional 25,926,552 shares during the period. Berkshire Hathaway Inc raised its position in Apple by 2.3% during the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after acquiring an additional 20,424,207 shares during the period. Finally, Providence Capital Advisors LLC raised its position in Apple by 16,638.6% during the first quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock worth $94,566,000 after acquiring an additional 15,500,812 shares during the period. Institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $23,483,548.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 439,585 shares of company stock valued at $76,485,550. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAPL shares. Barclays dropped their target price on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. Rosenblatt Securities lowered their target price on shares of Apple from $198.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. TD Cowen increased their price target on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $195.00 target price on shares of Apple in a report on Monday, October 9th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.82.

Apple Stock Up 2.3 %

AAPL opened at $186.40 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. The stock has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.53 and a beta of 1.30. The business has a 50-day moving average of $176.47 and a two-hundred day moving average of $179.95. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. On average, research analysts expect that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 15.69%.

About Apple

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.