First Manhattan Co. Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

First Manhattan Co. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,845,914 shares of the iPhone maker’s stock after selling 64,440 shares during the period. Apple comprises approximately 5.6% of First Manhattan Co.’s investment portfolio, making the stock its 2nd biggest position. First Manhattan Co. owned approximately 0.06% of Apple worth $1,719,195,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Apple in the fourth quarter worth about $25,228,507,000. Aaron Wealth Advisors LLC boosted its stake in 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 purchasing an additional 25,989,570 shares during the period. State Street Corp raised its stake in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. 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 valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Finally, Swiss National Bank boosted its position 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 during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Up 3.9 %

NASDAQ AAPL opened at $163.43 on Tuesday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The stock has a market cap of $2.63 trillion, a PE ratio of 26.97, a PEG ratio of 2.03 and a beta of 1.23. The firm has a 50-day simple moving average of $158.47 and a 200 day simple moving average of $156.30. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. KeyCorp upped their price target on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Itau BBA Securities started coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. Wells Fargo & Company cut their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, Rosenblatt Securities decreased their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.31.

Insider Activity

In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now 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 hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, 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. Corporate insiders own 0.06% of the company’s stock.

About Apple

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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