Apple Inc. (NASDAQ:AAPL) Position Lowered by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,711,492 shares of the iPhone maker’s stock after selling 210,900 shares during the quarter. Apple comprises 4.7% of Mn Services Vermogensbeheer B.V.’s portfolio, making the stock its 2nd biggest holding. Mn Services Vermogensbeheer B.V.’s holdings in Apple were worth $602,304,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Drystone LLC purchased a new position in Apple during the 4th quarter valued at approximately $25,000. Conquis Financial LLC bought a new stake in Apple during the 4th quarter valued at $63,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple in the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc bought a new position in shares of Apple in the 4th quarter worth $96,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $211.18 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a 50-day moving average of $204.57 and a two-hundred day moving average of $215.61. The stock has a market cap of $3.15 trillion, a P/E ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 earnings per share. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

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

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

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Evercore ISI boosted their price objective on Apple to $250.00 and gave the company a “buy” rating in a report on Friday, June 6th. DA Davidson increased their price objective on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Wedbush reissued an “outperform” rating and set a $270.00 price target on shares of Apple in a report on Wednesday, July 9th. UBS Group reissued a “hold” rating on shares of Apple in a report on Friday. Finally, Bank of America reissued a “buy” rating and set a $235.00 price target on shares of Apple in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.11.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Apple

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.