Apple Inc. (NASDAQ:AAPL) is Benin Management CORP’s 2nd Largest Position

Benin Management CORP lessened its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 132,359 shares of the iPhone maker’s stock after selling 2,665 shares during the quarter. Apple makes up about 6.9% of Benin Management CORP’s investment portfolio, making the stock its 2nd largest holding. Benin Management CORP’s holdings in Apple were worth $18,096,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Vanguard Group Inc. raised its stake in Apple by 0.7% during 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 buying an additional 8,734,393 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Swiss National Bank raised its stake 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 purchasing an additional 8,230,300 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Apple by 10.1% in the first quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after purchasing an additional 6,162,898 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apple by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after purchasing an additional 1,003,177 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Stock Down 2.2 %

Shares of NASDAQ:AAPL opened at $148.01 on Tuesday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market cap of $2.35 trillion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The business’s 50 day moving average is $146.78 and its 200 day moving average is $149.71. 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 announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Sell-side analysts predict that Apple Inc. will post 6.26 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.62%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. Bank Of America (Bofa) cut Apple from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Barclays decreased their price target on Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, November 8th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Finally, Bank of America cut their price objective on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.26.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 360,651 shares of company stock valued at $53,703,645. 0.06% of the stock is currently owned by corporate insiders.

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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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