Apple Inc. (NASDAQ:AAPL) Position Reduced by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 197,897 shares of the iPhone maker’s stock after selling 13,720 shares during the period. Apple comprises 5.1% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 4th biggest holding. MainStreet Investment Advisors LLC’s holdings in Apple were worth $41,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Capital International Investors boosted its stake in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. Jennison Associates LLC raised its position in Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB increased its position in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after buying an additional 2,594,138 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Apple by 2.5% in the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after purchasing an additional 415,186 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. Raymond James lifted their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. KeyCorp reaffirmed a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.27.

Apple Trading Down 2.2 %

AAPL opened at $230.76 on Thursday. The company has a market capitalization of $3.54 trillion, a P/E ratio of 35.89, a PEG ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The stock’s fifty day moving average is $226.64 and its two-hundred day moving average is $209.48.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 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.