Apple Inc. (NASDAQ:AAPL) is New York State Common Retirement Fund’s 2nd Largest Position

New York State Common Retirement Fund cut its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 21,940,562 shares of the iPhone maker’s stock after selling 1,720,681 shares during the period. Apple makes up approximately 5.8% of New York State Common Retirement Fund’s holdings, making the stock its 2nd largest holding. New York State Common Retirement Fund owned about 0.14% of Apple worth $4,224,216,000 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 AAPL. Wyrmwood Management LLC boosted its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC boosted its position in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp grew its stake in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares in the last quarter. Cordant Inc. increased its position in shares of Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after acquiring an additional 140 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Apple in the fourth quarter worth about $111,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $186.88 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $199.62. The stock’s fifty day moving average is $175.55 and its 200-day moving average is $182.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 2.34 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. Equities analysts anticipate that Apple Inc. will post 6.57 EPS for the current year.

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.54%. Apple’s payout ratio is presently 15.55%.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,270 shares of company stock valued at $64,605,696. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AAPL. Citigroup lowered their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Robert W. Baird upped their price target on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Canaccord Genuity Group upped their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Finally, Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $204.71.

Get Our Latest Analysis on AAPL

Apple Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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