Pensionfund Sabic Has $7.62 Million Position in Apple Inc. $AAPL

Pensionfund Sabic decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,280 shares of the iPhone maker’s stock after selling 6,000 shares during the quarter. Apple accounts for approximately 2.3% of Pensionfund Sabic’s investment portfolio, making the stock its 2nd largest position. Pensionfund Sabic’s holdings in Apple were worth $7,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AdviceOne Advisory Services LLC lifted its position in Apple by 1.7% during the first quarter. AdviceOne Advisory Services LLC now owns 13,199 shares of the iPhone maker’s stock worth $2,932,000 after purchasing an additional 224 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new stake in Apple during the first quarter worth about $122,991,000. Swedbank AB lifted its position in Apple by 2.4% during the first quarter. Swedbank AB now owns 19,179,656 shares of the iPhone maker’s stock worth $4,260,377,000 after purchasing an additional 453,774 shares during the period. Voya Investment Management LLC lifted its position in Apple by 10.8% during the first quarter. Voya Investment Management LLC now owns 15,917,703 shares of the iPhone maker’s stock worth $3,534,260,000 after purchasing an additional 1,556,183 shares during the period. Finally, Guinness Asset Management LTD lifted its position in Apple by 5.3% during the first quarter. Guinness Asset Management LTD now owns 178,541 shares of the iPhone maker’s stock worth $39,647,000 after purchasing an additional 8,957 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AAPL. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. Morgan Stanley set a $240.00 price objective on shares of Apple and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Rosenblatt Securities boosted their target price on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $241.77.

Apple Stock Performance

Apple stock opened at $238.15 on Wednesday. The business has a 50 day moving average of $222.59 and a 200-day moving average of $212.17. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. 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 company has a market capitalization of $3.53 trillion, a P/E ratio of 36.14, a P/E/G ratio of 2.46 and a beta of 1.11.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis 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%.

Insiders Place Their Bets

In other Apple 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 transaction of $7,772,047.20. Following the completion of the sale, the senior vice president 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.