Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Cypress Funds LLC

Cypress Funds LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 24.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,297 shares of the iPhone maker’s stock after selling 48,035 shares during the quarter. Apple accounts for 4.2% of Cypress Funds LLC’s investment portfolio, making the stock its 10th largest position. Cypress Funds LLC’s holdings in Apple were worth $31,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Swedbank AB purchased a new stake in Apple during the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC raised its holdings in shares of Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James boosted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Cfra upped their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays reissued an “underweight” rating and issued a $186.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $233.85 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm’s fifty day moving average price is $224.59 and its 200 day moving average price is $207.04. The firm has a market cap of $3.59 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.