Independent Investors Inc. Sells 14,610 Shares of Apple Inc. (NASDAQ:AAPL)

Independent Investors Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,244,589 shares of the iPhone maker’s stock after selling 14,610 shares during the quarter. Apple accounts for approximately 55.2% of Independent Investors Inc.’s holdings, making the stock its largest holding. Independent Investors Inc.’s holdings in Apple were worth $239,621,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wyrmwood Management LLC increased its position in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the period. Atlantic Private Wealth LLC bought a new position in Apple during the first quarter valued at about $30,000. Cheyne Capital Management UK LLP boosted its position in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the period. West Tower Group LLC acquired a new position in shares of Apple in the 2nd quarter valued at $64,000. Finally, HBC Financial Services PLLC boosted its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.8 %

Shares of NASDAQ AAPL opened at $170.03 on Tuesday. The stock has a market cap of $2.63 trillion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. 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 Inc. has a 52-week low of $159.78 and a 52-week high of $199.62. The business has a 50-day moving average price of $180.75 and a 200 day moving average price of $182.63.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AAPL shares. Loop Capital reduced their price objective on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday. Citigroup reissued a “buy” rating and set a $225.00 price objective on shares of Apple in a report on Friday, February 16th. Piper Sandler Companies lowered Apple to a “neutral” rating and lowered their price objective for the company from $220.00 to $205.00 in a report on Thursday, January 4th. UBS Group reaffirmed a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Apple in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.23.

Read Our Latest Analysis on AAPL

Insiders Place Their Bets

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was 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 directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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