Apple Inc. (NASDAQ:AAPL) Position Lessened by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,105,232 shares of the iPhone maker’s stock after selling 50,287 shares during the quarter. Apple accounts for about 5.6% of Amalgamated Bank’s portfolio, making the stock its 2nd largest position. Amalgamated Bank’s holdings in Apple were worth $654,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC grew its stake in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. Access Investment Management LLC purchased a new stake in Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP grew its stake in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC purchased a new stake in Apple during the 2nd quarter valued at about $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade 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 can be accessed through this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 417,924 shares of company stock valued at $94,142,399 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.6 %

AAPL stock opened at $223.45 on Wednesday. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $226.98 and a 200-day simple moving average of $213.44. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. On average, equities research analysts expect that Apple Inc. will post 7.45 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Cfra boosted their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Finally, UBS Group reissued a “hold” rating and issued a $236.00 price objective on shares of Apple in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.