Apple Inc. (NASDAQ:AAPL) is New York State Teachers Retirement System’s 3rd Largest Position

New York State Teachers Retirement System decreased its position in Apple Inc. (NASDAQ:AAPL) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,891,179 shares of the iPhone maker’s stock after selling 732,937 shares during the quarter. Apple accounts for approximately 6.2% of New York State Teachers Retirement System’s portfolio, making the stock its 3rd largest position. New York State Teachers Retirement System owned about 0.09% of Apple worth $2,925,760,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth about $33,912,466,000. Vanguard Group Inc. increased its stake in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after buying an additional 18,067,216 shares during the period. Swedbank AB purchased a new stake in Apple during the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC lifted its holdings in Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $226.37 on Thursday. The stock’s 50-day moving average price is $222.10 and its 200 day moving average price is $201.22. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Thursday, September 19th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. KeyCorp reiterated a “hold” rating and issued a $247.61 price objective on shares of Apple in a research note on Wednesday, August 28th. Melius Research restated a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.76.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Profile

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.