Klingenstein Fields & Co. LP Has $84.66 Million Stock Holdings in Apple Inc. $AAPL

Klingenstein Fields & Co. LP reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,122 shares of the iPhone maker’s stock after selling 1,909 shares during the quarter. Apple makes up about 3.6% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 4th largest holding. Klingenstein Fields & Co. LP’s holdings in Apple were worth $84,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Apple during the fourth quarter worth $46,868,648,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $231.59 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a 50 day moving average price of $209.69 and a 200-day moving average price of $212.97. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AAPL shares. China Renaissance started coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target on the stock. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a research note on Thursday, August 7th. Citigroup upped their price target on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.60.

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.