AMI Investment Management Inc. Sells 564 Shares of Apple Inc. $AAPL

AMI Investment Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,192 shares of the iPhone maker’s stock after selling 564 shares during the quarter. AMI Investment Management Inc.’s holdings in Apple were worth $2,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Kingstone Capital Partners Texas LLC lifted its holdings in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Nuveen LLC purchased a new stake in Apple during the 1st quarter worth about $17,472,482,000. Northern Trust Corp increased its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Amundi increased its stake in Apple by 27.4% in the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly 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 position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is owned by company insiders.

Apple Trading Down 0.4%

Shares of AAPL stock opened at $270.37 on Monday. The stock has a market capitalization of $4.01 trillion, a PE ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The business has a 50-day moving average of $248.34 and a 200 day moving average of $222.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Argus set a $325.00 target price on Apple and gave the stock a “buy” rating in a research note on Friday. Bank of America upped their target price on Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays increased their price objective on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Monness Crespi & Hardt increased their price objective on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $276.39.

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.