Handelsbanken Fonder AB Decreases Stake in Apple Inc. (AAPL)

Handelsbanken Fonder AB reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 585,800 shares of the iPhone maker’s stock after selling 21,000 shares during the quarter. Apple makes up approximately 2.2% of Handelsbanken Fonder AB’s holdings, making the stock its 5th biggest position. Handelsbanken Fonder AB’s holdings in Apple were worth $98,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Trust Co. of Vermont grew its stake in shares of Apple by 1.3% during the 1st quarter. Trust Co. of Vermont now owns 162,379 shares of the iPhone maker’s stock worth $27,244,000 after acquiring an additional 2,128 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Apple by 165.1% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,339 shares of the iPhone maker’s stock worth $224,000 after acquiring an additional 834 shares in the last quarter. Gables Capital Management Inc. bought a new position in shares of Apple in the first quarter valued at $3,877,000. McKinley Carter Wealth Services Inc. grew its stake in shares of Apple by 34.0% in the first quarter. McKinley Carter Wealth Services Inc. now owns 36,584 shares of the iPhone maker’s stock valued at $6,138,000 after buying an additional 9,283 shares in the last quarter. Finally, Lara May & Associates LLC bought a new position in shares of Apple in the first quarter valued at $1,062,000. 58.62% of the stock is owned by institutional investors.

In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Federighi sold 47,796 shares of Apple stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $207.50, for a total value of $9,917,670.00. Following the sale, the insider now directly owns 412,571 shares of the company’s stock, valued at approximately $85,608,482.50. The disclosure for this sale can be found here. Insiders have sold 378,400 shares of company stock valued at $81,052,754 in the last three months. Insiders own 0.08% of the company’s stock.

AAPL stock opened at $226.41 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. Apple Inc. has a one year low of $149.16 and a one year high of $229.67. The firm has a market cap of $1,100.25 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.97 and a beta of 1.33.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. During the same period in the previous year, the business posted $1.67 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. sell-side analysts anticipate that Apple Inc. will post 11.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Friday, August 10th. Apple’s dividend payout ratio is currently 31.70%.

Several research firms recently weighed in on AAPL. Morgan Stanley reissued a “buy” rating and issued a $245.00 target price (up from $232.00) on shares of Apple in a research note on Wednesday, September 5th. DA Davidson reissued a “buy” rating and issued a $265.00 target price (up from $230.00) on shares of Apple in a research note on Wednesday, September 5th. DZ Bank reissued a “buy” rating on shares of Apple in a research note on Monday, September 3rd. Canaccord Genuity reissued a “buy” rating and issued a $250.00 target price (up from $220.00) on shares of Apple in a research note on Tuesday, September 4th. Finally, Cascend Securities raised their target price on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $214.40.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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