Apple Inc. (NASDAQ:AAPL) Shares Sold by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,384 shares of the iPhone maker’s stock after selling 1,190 shares during the period. Apple accounts for 6.4% of Cohen Investment Advisors LLC’s holdings, making the stock its largest position. Cohen Investment Advisors LLC’s holdings in Apple were worth $8,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Wyrmwood Management LLC increased 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 acquiring an additional 69 shares during the last quarter. Atlantic Private Wealth LLC bought a new position in Apple in the first quarter valued at approximately $30,000. Gilfoyle & Co LLC increased its stake in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. Cheyne Capital Management UK LLP increased its stake in Apple by 200.0% in 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 during the last quarter. Finally, HBC Financial Services PLLC increased its stake in Apple by 21.7% in 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 during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $168.00 on Thursday. The firm’s 50-day moving average price is $175.57 and its 200-day moving average price is $182.21. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62. The firm has a market capitalization of $2.59 trillion, a P/E ratio of 26.17, a P/E/G ratio of 2.08 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.57%. Apple’s payout ratio is 14.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price objective on shares of Apple in a research note on Friday, March 22nd. DZ Bank reissued a “hold” rating and issued a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. Loop Capital cut their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. UBS Group reiterated a “hold” rating and set a $190.00 price target on shares of Apple in a report on Monday, March 25th. Finally, Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.34.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, 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 available through this hyperlink. In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is owned by corporate insiders.

Apple 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.