Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Townsend & Associates Inc

Townsend & Associates Inc lessened its position in Apple Inc. (NASDAQ:AAPLFree Report) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,917 shares of the iPhone maker’s stock after selling 522 shares during the period. Townsend & Associates Inc’s holdings in Apple were worth $3,290,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Morgan Stanley grew its holdings in shares of Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after buying an additional 2,018,010 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares in the last quarter. Barclays PLC increased its holdings in Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after buying an additional 2,826,709 shares during the last quarter. California Public Employees Retirement System raised its position in Apple by 4.6% during the third quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock valued at $6,605,195,000 after acquiring an additional 1,696,576 shares in the last quarter. Finally, National Pension Service lifted its stake in Apple by 1.9% in the fourth quarter. National Pension Service now owns 24,534,731 shares of the iPhone maker’s stock valued at $4,723,672,000 after acquiring an additional 461,321 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple 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 directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AAPL shares. Morgan Stanley reiterated an “overweight” rating and issued a $216.00 price objective on shares of Apple in a report on Tuesday. Tigress Financial boosted their target price on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. Barclays lifted their price target on shares of Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research report on Friday, May 3rd. Wedbush boosted their target price on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Apple in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.59.

Read Our Latest Research Report on AAPL

Apple Price Performance

NASDAQ AAPL opened at $194.35 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The firm’s 50 day moving average is $178.48 and its 200-day moving average is $183.28. The company has a market capitalization of $2.98 trillion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 2.34 and a beta of 1.25. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating 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 return on equity of 148.33% and a net margin of 26.31%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is currently 15.55%.

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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