Apple Inc. $AAPL Stock Position Lowered by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 12.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,043,313 shares of the iPhone maker’s stock after selling 297,794 shares during the period. Apple makes up about 4.1% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 3rd largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Apple were worth $413,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baker Boyer National Bank raised its stake in shares of Apple by 0.3% in the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after acquiring an additional 47 shares in the last quarter. Red Tortoise LLC raised its position in Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 49 shares in the last quarter. SigFig Wealth Management LLC boosted its stake in shares of Apple by 2.8% in the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the period. Shariaportfolio Inc. grew its position in shares of Apple by 1.3% during the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after buying an additional 50 shares in the last quarter. Finally, Sharpepoint LLC increased its stake in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 0.1%

NASDAQ:AAPL opened at $278.28 on Friday. The company has a market capitalization of $4.11 trillion, a PE ratio of 37.25, a P/E/G ratio of 2.60 and a beta of 1.10. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The stock’s 50 day moving average price is $268.24 and its 200 day moving average price is $236.77. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 13.92%.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $203.07 to $246.99 in a report on Friday, October 31st. Monness Crespi & Hardt increased their target price on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wedbush set a $350.00 price target on Apple and gave the company an “outperform” rating in a research note on Monday. Melius upped their price objective on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Robert W. Baird set a $300.00 target price on Apple in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $282.51.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on 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 directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple 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 completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is owned by 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.