Conway Capital Management Inc. Sells 2,555 Shares of Apple Inc. $AAPL

Conway Capital Management Inc. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,568 shares of the iPhone maker’s stock after selling 2,555 shares during the period. Apple comprises about 13.7% of Conway Capital Management Inc.’s portfolio, making the stock its 2nd biggest holding. Conway Capital Management Inc.’s holdings in Apple were worth $30,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of Apple by 573,627.2% during 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 acquired a new position in Apple in the first quarter valued at $17,472,482,000. Northern Trust Corp lifted its stake in shares of Apple by 13.3% in the 4th 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 during the period. Amundi boosted its holdings in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after buying an additional 14,651,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% in the fourth 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 purchasing an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AAPL shares. DA Davidson upped their target price on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Tigress Financial lifted their price target on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a research report on Thursday. Argus set a $325.00 price objective on Apple and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Rosenblatt Securities boosted their price target on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $278.22.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was 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 $46,005,982.82. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Apple stock opened at $272.41 on Monday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $4.03 trillion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The firm’s 50 day simple moving average is $255.92 and its 200 day simple moving average is $227.05.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. As a group, analysts expect 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, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

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.