Apple Inc. $AAPL Position Reduced by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 475,911 shares of the iPhone maker’s stock after selling 11,620 shares during the quarter. Apple accounts for about 1.9% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 16th largest position. Zevenbergen Capital Investments LLC’s holdings in Apple were worth $97,643,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Apple by 3.1% during the 2nd quarter. Versant Capital Management Inc now owns 50,239 shares of the iPhone maker’s stock worth $10,308,000 after purchasing an additional 1,529 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in shares of Apple by 2.5% in the 2nd quarter. Insight Wealth Strategies LLC now owns 37,946 shares of the iPhone maker’s stock valued at $7,886,000 after purchasing an additional 936 shares during the last quarter. Retirement Wealth Solutions LLC lifted its stake in shares of Apple by 3.7% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 2,201 shares of the iPhone maker’s stock valued at $452,000 after purchasing an additional 78 shares during the last quarter. Greenfield Savings Bank lifted its stake in shares of Apple by 0.5% in the 2nd quarter. Greenfield Savings Bank now owns 66,337 shares of the iPhone maker’s stock valued at $13,610,000 after purchasing an additional 315 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its position in shares of Apple by 5.9% in the second quarter. Nova Wealth Management Inc. now owns 6,012 shares of the iPhone maker’s stock valued at $1,233,000 after purchasing an additional 334 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. DA Davidson reissued a “neutral” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Tigress Financial upped their target price on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein started coverage on shares of Apple in a report on Monday. They issued an “outperform” rating and a $290.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.93.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.5%

Shares of AAPL stock opened at $237.88 on Friday. The firm has a fifty day moving average of $223.66 and a 200-day moving average of $212.35. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.48 and a beta of 1.11.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given 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 15.78%.

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.