California Public Employees Retirement System lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,313,427 shares of the iPhone maker’s stock after selling 286,783 shares during the period. Apple comprises approximately 2.9% of California Public Employees Retirement System’s investment portfolio, making the stock its largest holding. California Public Employees Retirement System’s holdings in Apple were worth $2,065,947,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in AAPL. Smart Portfolios LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $134,000. Macroview Investment Management LLC raised its stake in shares of Apple by 220.3% during the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after buying an additional 619 shares during the period. Litman Gregory Asset Management LLC raised its stake in shares of Apple by 553.8% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after buying an additional 875 shares during the period. Stuart Chaussee & Associates Inc. raised its stake in shares of Apple by 940.8% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock worth $181,000 after buying an additional 969 shares during the period. Finally, Delphi Private Advisors LLC raised its stake in shares of Apple by 8,292.9% during the 4th quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock worth $199,000 after buying an additional 1,161 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.
Several research analysts have recently weighed in on AAPL shares. BidaskClub downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Wells Fargo & Co reaffirmed a “neutral” rating and set a $210.00 target price on shares of Apple in a research note on Friday, August 10th. Morgan Stanley upped their target price on Apple from $214.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 24th. BMO Capital Markets increased their price objective on Apple from $171.00 to $184.00 and gave the company a “market perform” rating in a research note on Monday, July 23rd. Finally, UBS Group reissued a “buy” rating and issued a $210.00 price objective on shares of Apple in a research note on Monday, July 30th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $220.52.
Shares of NASDAQ:AAPL opened at $225.03 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The firm has a market capitalization of $1,071.21 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 1.69 and a beta of 1.16. Apple Inc. has a 52-week low of $149.16 and a 52-week high of $228.26.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 EPS. equities analysts expect that Apple Inc. will post 11.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, August 10th. Apple’s payout ratio is currently 31.70%.
In other Apple news, COO Jeffrey E. Williams sold 15,653 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $190.94, for a total value of $2,988,783.82. Following the completion of the sale, the chief operating officer now directly owns 147,819 shares in the company, valued at approximately $28,224,559.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Angela J. Ahrendts sold 6,568 shares of the company’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $188.81, for a total value of $1,240,104.08. Following the completion of the sale, the insider now owns 79,476 shares of the company’s stock, valued at $15,005,863.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 400,621 shares of company stock valued at $85,281,642. 0.08% of the stock is owned by company insiders.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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