Scharf Investments LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Scharf Investments LLC cut its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 20,362 shares of the iPhone maker’s stock after selling 2,208 shares during the quarter. Apple comprises 0.1% of Scharf Investments LLC’s holdings, making the stock its 27th largest position. Scharf Investments LLC’s holdings in Apple were worth $2,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 8,734,393 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Apple by 2.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after acquiring an additional 4,831,418 shares during the last quarter. Legal & General Group Plc boosted its stake in Apple by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after acquiring an additional 9,411,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after acquiring an additional 1,155,915 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Apple by 12.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after purchasing an additional 8,716,964 shares during the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were 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 owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $141.11 on Tuesday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a fifty day moving average price of $138.57 and a two-hundred day moving average price of $148.14. The firm has a market cap of $2.23 trillion, a P/E ratio of 23.09, a PEG ratio of 1.78 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results 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 business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. Apple’s payout ratio is currently 15.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AAPL shares. Fundamental Research lifted their price target on Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Robert W. Baird lowered their price target on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Citigroup reissued a “buy” rating and set a $175.00 price target on shares of Apple in a research report on Tuesday, November 8th. BNP Paribas downgraded shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Tuesday, January 3rd. Finally, UBS Group set a $180.00 target price on shares of Apple in a report on Monday. Two 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 given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $166.44.

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

Read More

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.