Horizon Investments LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Horizon Investments LLC reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,537 shares of the iPhone maker’s stock after selling 683 shares during the period. Horizon Investments LLC’s holdings in Apple were worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Norges Bank purchased a new position in shares of Apple in the 4th quarter worth $25,228,507,000. Aaron Wealth Advisors LLC boosted its stake in shares of Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares during the last quarter. State Street Corp boosted its stake in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Vanguard Group Inc. raised its holdings in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Finally, Swiss National Bank raised its holdings in Apple by 13.1% in the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 1.9 %

AAPL opened at $157.37 on Friday. The firm has a market cap of $2.53 trillion, a P/E ratio of 25.97, a P/E/G ratio of 2.00 and a beta of 1.23. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average of $158.47 and a 200 day moving average of $156.34.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $139.00 target price on shares of Apple in a report on Thursday. Rosenblatt Securities decreased their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Barclays set a $169.00 target price on Apple in a report on Thursday. Finally, Evercore ISI raised their target price on Apple from $180.00 to $185.00 in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.31.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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