Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,987,429 shares of the iPhone maker’s stock after selling 52,000 shares during the period. Apple makes up about 4.8% of Factory Mutual Insurance Co.’s investment portfolio, making the stock its 3rd largest holding. Factory Mutual Insurance Co.’s holdings in Apple were worth $382,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Cullinan Associates Inc. lifted its position in shares of Apple by 6.3% during the 3rd quarter. Cullinan Associates Inc. now owns 784,520 shares of the iPhone maker’s stock valued at $134,318,000 after buying an additional 46,216 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in shares of Apple by 4.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 143,501 shares of the iPhone maker’s stock valued at $24,569,000 after buying an additional 5,981 shares during the last quarter. Platte River Wealth Advisors LLC lifted its position in shares of Apple by 1.1% during the 3rd quarter. Platte River Wealth Advisors LLC now owns 62,407 shares of the iPhone maker’s stock valued at $10,685,000 after buying an additional 697 shares during the last quarter. Polaris Wealth Advisory Group LLC lifted its position in shares of Apple by 77.3% during the 3rd quarter. Polaris Wealth Advisory Group LLC now owns 322,877 shares of the iPhone maker’s stock valued at $55,280,000 after buying an additional 140,750 shares during the last quarter. Finally, Independent Wealth Network Inc. lifted its position in shares of Apple by 0.9% during the 3rd quarter. Independent Wealth Network Inc. now owns 19,813 shares of the iPhone maker’s stock valued at $3,392,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. DZ Bank reaffirmed a “hold” rating and set a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Barclays reiterated an “underweight” rating and set a $158.00 price objective on shares of Apple in a research note on Tuesday. DA Davidson assumed coverage on Apple in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Finally, Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Apple Trading Up 1.3 %

Shares of AAPL stock opened at $169.02 on Thursday. The stock has a market capitalization of $2.61 trillion, a PE ratio of 26.33, a P/E/G ratio of 2.00 and a beta of 1.27. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62. The business has a 50-day moving average of $173.58 and a 200 day moving average of $181.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. The company 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%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.88 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

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

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 value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

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.