Texas Permanent School Fund Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

Texas Permanent School Fund lifted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,137,474 shares of the iPhone maker’s stock after purchasing an additional 106,530 shares during the period. Apple accounts for approximately 4.7% of Texas Permanent School Fund’s portfolio, making the stock its biggest holding. Texas Permanent School Fund’s holdings in Apple were worth $295,399,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. MKT Advisors LLC boosted its stake in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares during the period. Your Advocates Ltd. LLP boosted its stake in Apple by 1.0% in the 2nd quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after purchasing an additional 65 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Apple by 6.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after purchasing an additional 66 shares during the period. Aufman Associates Inc boosted its stake in Apple by 0.9% in the 2nd quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after purchasing an additional 66 shares during the period. Finally, Lake Point Wealth Management boosted its stake in Apple by 1.7% in the 2nd quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after purchasing an additional 67 shares during the period. 57.60% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of Apple 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 completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction 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 approximately $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAPL. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Oppenheimer reduced their price objective on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. Citigroup restated a “buy” rating and set a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Needham & Company LLC restated a “buy” rating and set a $170.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Finally, Canaccord Genuity Group reduced their price objective on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Two research 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 company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $166.44.

Apple Stock Performance

Shares of Apple stock opened at $142.53 on Wednesday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. 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 firm has a market capitalization of $2.26 trillion, a P/E ratio of 23.33, a P/E/G ratio of 1.78 and a beta of 1.24. The company’s 50 day moving average price is $138.42 and its two-hundred day moving average price is $148.11.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates 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. On average, equities analysts forecast that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders 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 dividend yield of 0.65%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Apple Company Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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