Vision Capital Management Inc. Has $48.12 Million Stock Holdings in Apple Inc. $AAPL

Vision Capital Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,529 shares of the iPhone maker’s stock after selling 2,628 shares during the quarter. Apple comprises 6.3% of Vision Capital Management Inc.’s holdings, making the stock its 3rd biggest position. Vision Capital Management Inc.’s holdings in Apple were worth $48,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Kingstone Capital Partners Texas LLC increased its stake in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Nuveen LLC bought a new stake in Apple in the first quarter valued at approximately $17,472,482,000. GAMMA Investing LLC increased its stake in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Northern Trust Corp increased its stake in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, Amundi increased its stake in Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 in the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 3.5%

NASDAQ AAPL opened at $245.27 on Friday. The company has a market cap of $3.64 trillion, a PE ratio of 37.22, a PEG ratio of 2.47 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 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 stock has a 50 day moving average of $237.61 and a 200-day moving average of $215.92.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Rosenblatt Securities increased 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. Tigress Financial increased their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, Melius Research set a $290.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

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.