Apple Inc. (NASDAQ:AAPL) is DAVENPORT & Co LLC’s 8th Largest Position

DAVENPORT & Co LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,117,191 shares of the iPhone maker’s stock after selling 8,125 shares during the period. Apple accounts for 1.5% of DAVENPORT & Co LLC’s portfolio, making the stock its 8th biggest position. DAVENPORT & Co LLC’s holdings in Apple were worth $215,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of AAPL. Wyrmwood Management LLC lifted its holdings in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC raised its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. PayPay Securities Corp lifted its stake in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after buying an additional 210 shares in the last quarter. Cordant Inc. increased its stake in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after buying an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in shares of Apple during the fourth quarter valued at approximately $132,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.6 %

NASDAQ:AAPL opened at $166.90 on Wednesday. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The firm has a market cap of $2.58 trillion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.99 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. The stock has a fifty day moving average price of $173.88 and a 200 day moving average price of $182.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter last year, the business posted $1.88 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current fiscal 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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is presently 14.95%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Wednesday, January 10th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 target price on shares of Apple in a report on Tuesday, March 5th. Robert W. Baird raised their price target on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $200.00 price target on shares of Apple in a research report on Friday, February 2nd. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.05.

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.