Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 565,335 shares of the iPhone maker’s stock after selling 2,500 shares during the period. Apple makes up about 7.1% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its largest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Apple were worth $125,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advanced Portfolio Management LLC lifted its stake in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares in the last quarter. Family Capital Management Inc. lifted its stake in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after buying an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after buying an additional 48 shares in the last quarter. Scarborough Advisors LLC lifted its stake in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after buying an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC lifted its stake in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. Barclays set a $173.00 price target on Apple and gave the stock an “underweight” rating in a research note on Tuesday, June 24th. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. UBS Group set a $210.00 price target on Apple and gave the stock a “neutral” rating in a research note on Thursday, July 3rd. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $235.27.

Apple Price Performance

NASDAQ AAPL opened at $212.41 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market capitalization of $3.17 trillion, a PE ratio of 33.09, a P/E/G ratio of 2.36 and a beta of 1.20. The stock has a 50-day simple moving average of $203.27 and a 200 day simple moving average of $217.73.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

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.