Apple Inc. (NASDAQ:AAPL) is Intech Investment Management LLC’s Largest Position

Intech Investment Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,783,683 shares of the iPhone maker’s stock after selling 222,520 shares during the period. Apple makes up 7.3% of Intech Investment Management LLC’s holdings, making the stock its largest holding. Intech Investment Management LLC’s holdings in Apple were worth $586,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in Apple in the 1st quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC lifted its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 2.1 %

Shares of AAPL opened at $227.48 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock’s 50-day moving average is $226.91 and its two-hundred day moving average is $213.51. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.44 trillion, a PE ratio of 37.41, a P/E/G ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. Equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. 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. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Friday, November 1st. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 412,746 shares of company stock valued at $93,021,362. Corporate insiders own 0.06% of the company’s stock.

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.