Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Jensen Investment Management Inc.

Jensen Investment Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,884,083 shares of the iPhone maker’s stock after selling 15,538 shares during the quarter. Apple makes up about 6.7% of Jensen Investment Management Inc.’s holdings, making the stock its 3rd biggest holding. Jensen Investment Management Inc.’s holdings in Apple were worth $818,066,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Bellwether Advisors LLC raised its position in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. WT Asset Management Ltd bought a new position in shares of Apple during the second quarter valued at about $80,057,000. Councilmark Asset Management LLC purchased a new position in shares of Apple in the first quarter worth about $11,776,000. TD Asset Management Inc lifted its stake in shares of Apple by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after acquiring an additional 1,557,848 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Apple by 62.0% during the 2nd quarter. Larson Financial Group LLC now owns 151,991 shares of the iPhone maker’s stock valued at $32,012,000 after acquiring an additional 58,153 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAPL shares. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. KeyCorp reiterated a “hold” rating and set a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Loop Capital increased their target price on shares of Apple to $300.00 and gave the stock a “buy” rating in a report on Monday. Finally, Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. One 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple Stock Performance

Shares of AAPL stock opened at $236.48 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.63 trillion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company’s 50-day moving average is $226.16 and its 200 day moving average is $208.86.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by corporate insiders.

Apple Company 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.