Satovsky Asset Management LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Satovsky Asset Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,789 shares of the iPhone maker’s stock after selling 552 shares during the period. Apple accounts for 3.5% of Satovsky Asset Management LLC’s portfolio, making the stock its 8th largest holding. Satovsky Asset Management LLC’s holdings in Apple were worth $11,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley lifted its holdings in Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after purchasing an additional 2,018,010 shares in the last quarter. Barclays PLC increased its stake in Apple by 6.0% in the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after buying an additional 2,826,709 shares in the last quarter. California Public Employees Retirement System raised its holdings in Apple by 4.6% during the third quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock valued at $6,605,195,000 after acquiring an additional 1,696,576 shares during the period. Nordea Investment Management AB lifted its position in shares of Apple by 1.7% in the third quarter. Nordea Investment Management AB now owns 17,519,918 shares of the iPhone maker’s stock valued at $3,020,609,000 after acquiring an additional 287,329 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Apple by 7.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,616,794 shares of the iPhone maker’s stock worth $2,502,541,000 after acquiring an additional 1,018,430 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.3 %

AAPL stock opened at $169.30 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The firm’s 50-day moving average is $173.04 and its 200 day moving average is $181.79. The company has a market capitalization of $2.61 trillion, a PE ratio of 26.37, a P/E/G ratio of 2.04 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. On average, research analysts anticipate that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Maxim Group assumed coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, April 9th. Piper Sandler Companies lowered shares of Apple to a “neutral” rating and dropped their target price for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. Monness Crespi & Hardt lifted their price target on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Loop Capital dropped their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

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.