General American Investors Co. Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,000 shares of the iPhone maker’s stock after selling 10,000 shares during the quarter. Apple makes up approximately 1.8% of General American Investors Co. Inc.’s investment portfolio, making the stock its 21st largest position. General American Investors Co. Inc.’s holdings in Apple were worth $19,251,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AAPL. Summit Trail Advisors LLC increased its position in shares of Apple by 17,669.4% during the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after purchasing an additional 20,067,124 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Apple by 18,553.3% during the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after purchasing an additional 16,668,866 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Apple during the first quarter worth approximately $830,026,000. Harvard Management Co. Inc. purchased a new stake in shares of Apple during the first quarter worth approximately $283,972,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Apple by 6.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after purchasing an additional 1,030,981 shares in the last quarter. 57.65% of the stock is owned by institutional investors and hedge funds.
In related news, insider Chris Kondo sold 3,408 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the transaction, the insider now owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Luca Maestri sold 100,245 shares of the stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $228.56, for a total value of $22,911,997.20. Following the transaction, the insider now directly owns 91,665 shares in the company, valued at approximately $20,950,952.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,845 shares of company stock valued at $47,015,677. Company insiders own 0.08% of the company’s stock.
NASDAQ AAPL opened at $179.55 on Friday. The firm has a market cap of $889.35 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. Apple Inc. has a twelve month low of $150.24 and a twelve month high of $233.47.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The business had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. As a group, equities analysts expect that Apple Inc. will post 13.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s dividend payout ratio is presently 24.52%.
Several analysts recently commented on the company. BidaskClub cut Apple from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Bank of America reiterated a “neutral” rating and set a $220.00 price target on shares of Apple in a research report on Wednesday, November 21st. Nomura set a $185.00 price target on Apple and gave the stock a “neutral” rating in a research report on Wednesday, November 21st. Finally, UBS Group reiterated a “buy” rating and set a $225.00 price target on shares of Apple in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and twenty-five have issued a buy rating to the company. Apple currently has a consensus rating of “Hold” and a consensus price target of $220.67.
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Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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