Hardman Johnston Global Advisors LLC Sells 1,580 Shares of Apple Inc. (NASDAQ:AAPL)

Hardman Johnston Global Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,232 shares of the iPhone maker’s stock after selling 1,580 shares during the period. Apple comprises about 1.8% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 21st largest holding. Hardman Johnston Global Advisors LLC’s holdings in Apple were worth $42,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Apple by 0.7% in 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 acquiring an additional 8,734,393 shares during the period. Charles Schwab Investment Management Inc. increased its position in Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after acquiring an additional 1,155,915 shares during the period. Swiss National Bank increased its position in Apple by 13.1% in the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after acquiring an additional 8,230,300 shares during the period. Wellington Management Group LLP increased its position in Apple by 10.1% in the 1st quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock valued at $11,722,187,000 after acquiring an additional 6,162,898 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Apple by 2.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock valued at $6,758,754,000 after acquiring an additional 1,003,177 shares during the period. Institutional investors own 57.72% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 176,299 shares of the firm’s stock in a transaction dated 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 owns 136,290 shares in the company, valued at $19,374,986.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 360,651 shares of company stock worth $53,703,645. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4 %

AAPL opened at $151.29 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The company’s 50-day moving average is $147.08 and its 200 day moving average is $149.88. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 24.76, a PEG ratio of 1.93 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period last year, the firm earned $1.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. DA Davidson decreased their price target on shares of Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $189.00 to $160.00 in a research report on Friday, September 30th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research report on Monday, September 12th. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Finally, JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research report on Monday, November 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $176.26.

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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