Mutual of America Capital Management LLC Sells 103,611 Shares of Apple Inc. (NASDAQ:AAPL)

Mutual of America Capital Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,008,347 shares of the iPhone maker’s stock after selling 103,611 shares during the period. Apple comprises about 4.5% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its biggest position. Mutual of America Capital Management LLC’s holdings in Apple were worth $386,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Conservest Capital Advisors Inc. grew its holdings in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the period. Flagstone Financial Management boosted its holdings in shares of Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 56 shares during the period. High Pines Wealth Management LLC boosted its holdings in shares of Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the period. Asset Planning Corporation boosted its holdings in shares of Apple by 1.0% in the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares during the period. Finally, Columbus Macro LLC boosted its holdings in shares of Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Apple news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.9 %

AAPL stock opened at $181.71 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company’s 50-day simple moving average is $172.18 and its 200 day simple moving average is $181.72. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The company has a market capitalization of $2.81 trillion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.21 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the prior year, the company posted $1.52 earnings per share. Apple’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio is presently 14.93%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAPL shares. Morgan Stanley upped their price target on shares of Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a report on Friday. Bank of America upped their price target on shares of Apple from $225.00 to $230.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group upped their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday. DZ Bank reiterated a “hold” rating and issued a $180.00 price target on shares of Apple in a report on Thursday, March 28th. Finally, Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $162.00 to $188.00 in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.11.

Apple Profile

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.