Pegasus Asset Management Inc. Has $20.15 Million Position in Apple Inc. (NASDAQ:AAPL)

Pegasus Asset Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 86,480 shares of the iPhone maker’s stock after selling 2,777 shares during the period. Apple comprises approximately 7.7% of Pegasus Asset Management Inc.’s portfolio, making the stock its 2nd largest holding. Pegasus Asset Management Inc.’s holdings in Apple were worth $20,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Dimensional Fund Advisors LP lifted its holdings in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares during the period. Ameriprise Financial Inc. raised its position in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. American Century Companies Inc. raised its position in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares during the last quarter. Swedbank AB lifted its stake in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Apple by 10.3% in the second 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. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 2.1 %

Shares of NASDAQ:AAPL opened at $248.05 on Thursday. The business’s 50 day moving average is $234.01 and its 200 day moving average is $224.89. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $254.28. The stock has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.80, a PEG ratio of 2.41 and a beta of 1.23. 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 (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Friday, December 13th. Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Tigress Financial upped their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the 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 of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 508,170 shares of company stock worth $117,004,745. Insiders own 0.06% of the company’s stock.

About Apple

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.