Levin Capital Strategies L.P. Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Levin Capital Strategies L.P. trimmed its position in Apple Inc. (NASDAQ:AAPLFree Report) by 21.1% in the third quarter, Holdings Channel.com reports. The fund owned 130,860 shares of the iPhone maker’s stock after selling 34,994 shares during the period. Apple makes up approximately 2.7% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 11th largest position. Levin Capital Strategies L.P.’s holdings in Apple were worth $22,404,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Apple by 0.7% in 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 acquiring an additional 8,734,393 shares during the last quarter. State Street Corp increased its holdings in shares of Apple by 0.5% in the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock valued at $112,288,818,000 after acquiring an additional 2,616,084 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock valued at $56,396,763,000 after acquiring an additional 6,367,053 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Apple by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after buying an additional 7,736,013 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.

Apple Stock Down 0.9 %

NASDAQ:AAPL opened at $187.15 on Tuesday. The firm has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.27 and a beta of 1.31. Apple Inc. has a 1-year low of $143.90 and a 1-year high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The business’s fifty day moving average price is $190.46 and its 200 day moving average price is $184.00.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s payout ratio is currently 14.95%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Barclays lowered their price objective on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research note on Friday, February 2nd. Rosenblatt Securities restated a “neutral” rating and set a $189.00 price objective on shares of Apple in a research note on Wednesday, January 31st. Redburn Atlantic downgraded Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. DA Davidson began coverage on Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Apple in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.72.

Get Our Latest Analysis on Apple

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the transaction, the senior vice president now directly owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 5,513 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total value of $1,058,496.00. Following the transaction, the insider now directly owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Apple

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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