Apple Inc. (NASDAQ:AAPL) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,161,849 shares of the iPhone maker’s stock after selling 36,000 shares during the period. Apple makes up approximately 7.4% of IFM Investors Pty Ltd’s investment portfolio, making the stock its biggest holding. IFM Investors Pty Ltd’s holdings in Apple were worth $608,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Private Wealth LLC bought a new position in shares of Apple during the 1st quarter valued at about $30,000. Wyrmwood Management LLC lifted its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Summit Wealth Group LLC boosted its holdings in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 6,949,659 shares during the period. HBC Financial Services PLLC increased its position 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 worth $49,000 after acquiring an additional 80 shares in the last quarter. Finally, West Tower Group LLC acquired a new stake in shares of Apple during the second quarter worth $64,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $171.48 on Friday. Apple Inc. has a 12-month low of $159.35 and a 12-month high of $199.62. The company’s 50 day moving average price is $180.75 and its two-hundred day moving average price is $182.53. The firm has a market cap of $2.65 trillion, a PE ratio of 26.71, a PEG ratio of 2.09 and a beta of 1.29. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. Equities research analysts predict that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is 14.95%.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Piper Sandler lowered their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Piper Sandler Companies lowered Apple to a “neutral” rating and dropped their target price for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. The Goldman Sachs Group raised their price target on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Citigroup reaffirmed a “buy” rating and issued a $225.00 target price on shares of Apple in a research report on Friday, February 16th. Finally, Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.53.

Read Our Latest Stock Report on Apple

Apple Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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