State Street Corp Sells 19,262,972 Shares of Apple Inc. (NASDAQ:AAPL)

State Street Corp decreased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 613,852,274 shares of the iPhone maker’s stock after selling 19,262,972 shares during the period. Apple accounts for approximately 5.3% of State Street Corp’s portfolio, making the stock its biggest position. State Street Corp’s holdings in Apple were worth $107,184,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Joseph Group Capital Management bought a new stake in Apple in the fourth quarter worth $1,631,000. Cardinal Capital Management Inc. boosted its stake in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in shares of Apple in the 4th quarter valued at approximately $41,000. Emerson Wealth LLC lifted its holdings in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp grew its holdings in Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. KeyCorp lifted their price objective on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Morgan Stanley lowered 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. JPMorgan Chase & Co. set a $200.00 price target on Apple in a report on Tuesday, September 6th. Finally, Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.31.

Insider Buying and Selling at Apple

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

Apple Trading Up 1.9 %

Shares of AAPL opened at $157.37 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $2.53 trillion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.00 and a beta of 1.23. The stock has a fifty day moving average price of $158.47 and a two-hundred day moving average price of $156.34. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.

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

Apple Announces Dividend

The company also recently disclosed 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 dividend 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.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.