Oak Ridge Investments LLC Trims Position in Apple Inc. (NASDAQ:AAPL)

Oak Ridge Investments LLC lowered its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 14.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 415,922 shares of the iPhone maker’s stock after selling 71,409 shares during the quarter. Apple accounts for 8.3% of Oak Ridge Investments LLC’s portfolio, making the stock its 2nd biggest position. Oak Ridge Investments LLC’s holdings in Apple were worth $56,865,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in AAPL. Aaron Wealth Advisors LLC raised its stake in shares of Apple by 30,391.8% during the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after acquiring an additional 25,989,570 shares during the last quarter. Capital Research Global Investors increased its holdings in Apple by 31.7% during the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after purchasing an additional 9,354,484 shares during the period. Vanguard Group Inc. raised its position in Apple by 0.7% during the 1st 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 during the last quarter. Swiss National Bank lifted its holdings in Apple by 13.1% in the 1st 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. Finally, CFS Investment Advisory Services LLC grew its position in shares of Apple by 18,263.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after buying an additional 7,416,445 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Insider Activity

In other news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,374,986.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Luca Maestri sold 96,735 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders have sold a total of 457,386 shares of company stock valued at $70,627,433 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of AAPL opened at $138.38 on Friday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a market capitalization of $2.20 trillion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The firm has a 50 day moving average of $149.29 and a 200 day moving average of $150.94. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The business had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 6.34 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Monday, November 7th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AAPL shares. UBS Group restated a “buy” rating and set a $185.00 target price on shares of Apple in a report on Thursday. Monness Crespi & Hardt began coverage on shares of Apple in a research report on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price for the company. Credit Suisse Group reduced their price target on shares of Apple from $190.00 to $184.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Barclays raised their price objective on shares of Apple from $155.00 to $156.00 and gave the stock an “equal weight” rating in a report on Friday, October 28th. Finally, Itau BBA Securities assumed coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.56.

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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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