Biechele Royce Advisors Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Biechele Royce Advisors reduced its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,939 shares of the iPhone maker’s stock after selling 97 shares during the quarter. Apple comprises 7.2% of Biechele Royce Advisors’ holdings, making the stock its 2nd largest holding. Biechele Royce Advisors’ holdings in Apple were worth $21,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Norges Bank acquired a new position in shares of Apple in the fourth quarter worth approximately $33,912,466,000. International Assets Investment Management LLC lifted its stake in shares of Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. Cerity Partners LLC lifted its stake in shares of Apple by 130.1% in the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after acquiring an additional 5,331,439 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Apple in the fourth quarter worth approximately $560,388,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Apple in the third quarter worth approximately $487,435,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on 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 directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock worth $60,880,196 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 1.9 %

Shares of NASDAQ:AAPL opened at $193.12 on Tuesday. The company has a market capitalization of $2.96 trillion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The business has a fifty day moving average price of $180.37 and a two-hundred day moving average price of $183.39. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Analysts forecast that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AAPL. Citigroup dropped their price target on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. boosted their price target on Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Canaccord Genuity Group boosted their price target on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Monness Crespi & Hardt reissued a “buy” rating and issued a $205.00 price target on shares of Apple in a research note on Thursday, June 6th. Finally, Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.59.

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About Apple

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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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