MUFG Securities EMEA plc Reduces Position in Apple Inc. $AAPL

MUFG Securities EMEA plc trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,727,163 shares of the iPhone maker’s stock after selling 81,252 shares during the quarter. Apple accounts for 8.8% of MUFG Securities EMEA plc’s portfolio, making the stock its 2nd biggest holding. MUFG Securities EMEA plc’s holdings in Apple were worth $383,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of AAPL. Conquis Financial LLC bought a new position in Apple during the 4th quarter valued at about $63,000. LSV Asset Management bought a new position in Apple during the 4th quarter valued at about $65,000. Elite Financial Inc. bought a new position in Apple during the 1st quarter valued at about $58,000. Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC bought a new position in Apple during the 4th quarter valued at about $147,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $239.69 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day simple moving average of $219.28 and a two-hundred day simple moving average of $212.40. The stock has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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

Apple Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on AAPL. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. BMO Capital Markets restated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Barclays upped their target price on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Monness Crespi & Hardt upped their price objective on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Loop Capital reduced their price objective on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.05.

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.