ICONIQ Capital LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

ICONIQ Capital LLC lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 11.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,242 shares of the iPhone maker’s stock after selling 2,095 shares during the quarter. ICONIQ Capital LLC’s holdings in Apple were worth $2,836,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AAPL. Norges Bank purchased a new position in shares of Apple in the fourth quarter worth $25,228,507,000. Aaron Wealth Advisors LLC lifted its holdings in shares of Apple by 30,391.8% in the first 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 in the last quarter. State Street Corp lifted its holdings in shares of Apple by 1.8% in the fourth 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after buying an additional 8,230,300 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Fundamental Research set a $177.07 price target on shares of Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Bank of America decreased their price target on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a research note on Monday, August 1st. KeyCorp upped their price target on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. Finally, Credit Suisse Group set a $201.00 price target on shares of Apple in a research note on Thursday. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.31.

Insiders Place Their Bets

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

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $157.37 on Friday. The company’s 50-day moving average price is $158.47 and its 200-day moving average price is $156.34. 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 market cap of $2.53 trillion, a PE ratio of 25.97, a PEG 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.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.11 earnings per share 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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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