APG Asset Management US Inc. Sells 163,201 Shares of Apple Inc. (NASDAQ:AAPL)

APG Asset Management US Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 15.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 867,291 shares of the iPhone maker’s stock after selling 163,201 shares during the quarter. Apple comprises approximately 1.1% of APG Asset Management US Inc.’s portfolio, making the stock its 21st biggest position. APG Asset Management US Inc.’s holdings in Apple were worth $187,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Access Investment Management LLC purchased a new stake in shares of Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP increased its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth approximately $208,000. Finally, SMH Capital Advisors Inc. bought a new position in Apple in the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Apple stock opened at $224.23 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The stock has a 50-day moving average price of $226.72 and a 200 day moving average price of $215.06.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. New Street Research reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Raymond James raised their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, Barclays reduced their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

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.