MTM Investment Management LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

MTM Investment Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,259 shares of the iPhone maker’s stock after selling 811 shares during the period. Apple comprises about 4.7% of MTM Investment Management LLC’s portfolio, making the stock its largest position. MTM Investment Management LLC’s holdings in Apple were worth $12,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. State Street Corp increased its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. FMR LLC boosted its holdings in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. Redburn Partners set a $230.00 price objective on Apple in a report on Friday, January 31st. Evercore ISI upped their price objective on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Apple from $270.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

Apple Trading Down 3.9 %

NASDAQ:AAPL opened at $194.27 on Thursday. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The stock has a fifty day moving average price of $220.98 and a two-hundred day moving average price of $230.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Insider Activity

In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Company 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.