Union Bancaire Privee UBP SA Sells 35,916 Shares of Apple Inc. $AAPL

Union Bancaire Privee UBP SA reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 653,497 shares of the iPhone maker’s stock after selling 35,916 shares during the period. Apple comprises 2.8% of Union Bancaire Privee UBP SA’s holdings, making the stock its 9th largest position. Union Bancaire Privee UBP SA’s holdings in Apple were worth $137,883,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC grew its holdings 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 during the period. Nuveen LLC purchased a new position in shares of Apple in the first quarter valued at approximately $17,472,482,000. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 59,835,676 shares in the last quarter. Northern Trust Corp lifted its position in shares of 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 acquiring an additional 20,079,472 shares in the last quarter. Finally, Amundi lifted its position in shares of 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 acquiring an additional 14,651,321 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 129,963 shares of the company’s 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 transaction, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,121 shares of company stock worth $65,358,981. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $252.29 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The business’s 50 day moving average price is $241.13 and its 200 day moving average price is $216.81. The company has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.46 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 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 for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Monness Crespi & Hardt raised their target price on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and decreased their target price for the company from $205.82 to $205.16 in a research report on Friday, October 3rd. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Finally, Sanford C. Bernstein started coverage on Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.29.

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.