Klingenstein Fields & Co. LP Has $95.92 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Klingenstein Fields & Co. LP reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 383,031 shares of the iPhone maker’s stock after selling 4,579 shares during the quarter. Apple makes up approximately 3.9% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 4th biggest position. Klingenstein Fields & Co. LP’s holdings in Apple were worth $95,919,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Drystone LLC bought a new position in Apple in the 4th quarter worth $25,000. Bull Oak Capital LLC raised its holdings in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Life Planning Partners Inc purchased a new position in shares of Apple in the fourth quarter valued at about $47,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter valued at approximately $77,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $196.79 on Friday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company’s 50 day simple moving average is $219.65 and its 200-day simple moving average is $230.08. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. 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 earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s payout ratio is 15.87%.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock valued at $40,818,720 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Barclays raised their target price on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. UBS Group upped their price target on Apple to $236.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

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.