Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,031 shares of the iPhone maker’s stock after selling 4,579 shares during the period. Apple comprises 3.9% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 4th biggest holding. Klingenstein Fields & Co. LP’s holdings in Apple were worth $95,919,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. State Street Corp grew its holdings in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. FMR LLC raised its stake in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock worth $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL stock opened at $196.79 on Friday. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a market capitalization of $2.96 trillion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $219.65 and a 200-day simple moving average of $230.08.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. Apple’s payout ratio is 15.87%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $263.00 target price on shares of Apple in a report on Thursday, April 3rd. UBS Group lifted their price objective on Apple to $236.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. Citigroup dropped their price target on Apple from $275.00 to $245.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Finally, DA Davidson cut their target price on shares of Apple from $290.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

Apple Profile

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.