Sigma Investment Counselors Inc. Reduces Position in Apple Inc. (NASDAQ:AAPL)

Sigma Investment Counselors Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,581 shares of the iPhone maker’s stock after selling 4,429 shares during the period. Apple accounts for 1.6% of Sigma Investment Counselors Inc.’s investment portfolio, making the stock its 16th biggest position. Sigma Investment Counselors Inc.’s holdings in Apple were worth $19,152,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after purchasing an additional 9,411,018 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 8,734,393 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Apple by 12.1% in the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after acquiring an additional 8,716,964 shares during the last quarter. Swiss National Bank boosted its holdings in Apple by 13.1% in the first 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 last quarter. Finally, Verity Asset Management Inc. boosted its holdings in Apple by 29,097.9% in the first quarter. Verity Asset Management Inc. now owns 5,300,881 shares of the iPhone maker’s stock valued at $189,000 after acquiring an additional 5,282,726 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Stock Up 1.9 %

Shares of Apple stock opened at $137.87 on Monday. 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 firm has a market cap of $2.18 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.78 and a beta of 1.24. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The business has a 50-day moving average price of $138.72 and a 200 day moving average price of $148.18.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. During the same period in the previous year, the company earned $1.24 earnings per share. Apple’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. Apple’s payout ratio is currently 15.06%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Oppenheimer reduced their target price on Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, December 12th. BNP Paribas cut Apple from an “outperform” rating to a “neutral” rating and set a $140.00 target price on the stock. in a report on Tuesday, January 3rd. UBS Group set a $180.00 target price on Apple in a report on Thursday, January 12th. DA Davidson cut their price objective on Apple to $167.00 in a research report on Thursday, December 1st. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.73.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on 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 owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

About Apple

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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