New Century Investment Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 42.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,761 shares of the iPhone maker’s stock after selling 17,852 shares during the period. Apple makes up 3.9% of New Century Investment Management Inc.’s portfolio, making the stock its 2nd largest position. New Century Investment Management Inc.’s holdings in Apple were worth $2,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Bailard Inc. boosted its stake in shares of Apple by 23.2% in the third quarter. Bailard Inc. now owns 181,502 shares of the iPhone maker’s stock valued at $20,519,000 after buying an additional 34,162 shares during the period. Stanford Investment Group Inc. boosted its stake in shares of Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock valued at $11,352,000 after buying an additional 20,176 shares during the period. Fairview Capital Investment Management LLC boosted its stake in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock valued at $1,561,000 after buying an additional 350 shares during the period. Norges Bank bought a new stake in shares of Apple during the fourth quarter valued at about $5,625,709,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Apple during the fourth quarter valued at about $7,910,000. 58.76% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) opened at 153.61 on Friday. The firm has a 50 day moving average of $147.91 and a 200 day moving average of $130.91. Apple Inc. has a 1-year low of $91.50 and a 1-year high of $156.65. The firm has a market cap of $800.90 billion, a P/E ratio of 18.02 and a beta of 1.26.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.73% and a return on equity of 34.94%. The business had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. On average, equities research analysts expect that Apple Inc. will post $8.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.57. Apple’s dividend payout ratio (DPR) is currently 27.31%.

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Several brokerages have issued reports on AAPL. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $159.00 target price (up previously from $152.00) on shares of Apple in a research report on Monday, April 3rd. Goldman Sachs Group Inc reaffirmed a “buy” rating and set a $150.00 target price on shares of Apple in a research report on Wednesday, April 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $120.00 target price on shares of Apple in a research report on Monday, April 17th. FBN Securities increased their target price on Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $170.00 target price (up previously from $160.00) on shares of Apple in a research report on Wednesday, May 17th. Eight investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $158.55.

In other news, insider Luca Maestri sold 6,308 shares of the firm’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $141.83, for a total value of $894,663.64. Following the transaction, the insider now owns 2,665 shares of the company’s stock, valued at approximately $377,976.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Federighi sold 64,500 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $153.62, for a total transaction of $9,908,490.00. Following the completion of the transaction, the insider now directly owns 447,151 shares in the company, valued at approximately $68,691,336.62. The disclosure for this sale can be found here. In the last three months, insiders sold 420,686 shares of company stock worth $63,066,393. Insiders own 0.08% of the company’s stock.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

12 Month Chart for NASDAQ:AAPL

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