Apple Inc. (NASDAQ:AAPL) is Retirement Systems of Alabama’s Largest Position

Retirement Systems of Alabama reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,714,890 shares of the iPhone maker’s stock after selling 89,464 shares during the quarter. Apple comprises about 4.5% of Retirement Systems of Alabama’s portfolio, making the stock its largest holding. Retirement Systems of Alabama’s holdings in Apple were worth $1,054,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aaron Wealth Advisors LLC increased its holdings 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 buying an additional 25,989,570 shares during the period. Capital Research Global Investors increased its holdings in Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after buying an additional 9,354,484 shares during the period. Vanguard Group Inc. increased its holdings 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 worth $221,753,959,000 after buying an additional 8,734,393 shares during the period. Swiss National Bank increased 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 increased its holdings in 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 period. 57.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders sold a total of 360,651 shares of company stock valued at $53,703,645 in the last three months. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. Evercore ISI increased their price target on shares of Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $189.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Morgan Stanley dropped their price objective on shares of Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 8th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Finally, Robert W. Baird dropped their price objective on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Stock Up 0.4 %

NASDAQ AAPL opened at $151.29 on Monday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The business’s fifty day simple moving average is $147.08 and its 200-day simple moving average is $149.77. The firm has a market cap of $2.41 trillion, a PE ratio of 24.76, a P/E/G ratio of 1.93 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Apple Profile

(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.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.