New York Life Investment Management LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

New York Life Investment Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,274,540 shares of the iPhone maker’s stock after selling 16,089 shares during the quarter. Apple accounts for approximately 4.5% of New York Life Investment Management LLC’s investment portfolio, making the stock its largest holding. New York Life Investment Management LLC’s holdings in Apple were worth $437,917,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AAPL. Wyrmwood Management LLC increased its holdings in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC increased its stake in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. PayPay Securities Corp raised its holdings in shares of Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares in the last quarter. Friedenthal Financial purchased a new stake in Apple in the fourth quarter worth about $111,000. Finally, Cordant Inc. grew its holdings 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 acquiring an additional 140 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target for the company in a report on Monday, April 29th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Apple in a research note on Friday, May 3rd. Wedbush upped their target price on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Citigroup cut their price target on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, Canaccord Genuity Group boosted their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.59.

Check Out Our Latest Stock Report on Apple

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock worth $60,880,196 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

AAPL opened at $194.03 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The firm has a 50 day moving average of $177.99 and a two-hundred day moving average of $183.25. The firm has a market capitalization of $2.98 trillion, a PE ratio of 30.18, a P/E/G ratio of 2.34 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.57 EPS for the current year.

Apple announced that its board has approved a share buyback plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

About Apple

(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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