Harvard Management Co. Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 69.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 518,942 shares of the iPhone maker’s stock after selling 1,173,582 shares during the period. Apple makes up about 22.6% of Harvard Management Co. Inc.’s portfolio, making the stock its 2nd largest holding. Harvard Management Co. Inc.’s holdings in Apple were worth $96,061,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of AAPL. Summit Trail Advisors LLC boosted its holdings in Apple by 17,669.4% in the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after buying an additional 20,067,124 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Apple by 6.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after buying an additional 1,030,981 shares during the last quarter. Swiss National Bank boosted its holdings in Apple by 1.8% in the 2nd quarter. Swiss National Bank now owns 16,874,216 shares of the iPhone maker’s stock worth $3,123,586,000 after buying an additional 304,600 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Apple by 18,553.3% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after buying an additional 16,668,866 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Apple by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock worth $2,711,005,000 after buying an additional 55,050 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.
Several equities research analysts recently issued reports on the company. BidaskClub cut Apple from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Morgan Stanley reiterated a “buy” rating and issued a $247.00 price objective on shares of Apple in a report on Wednesday, September 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $272.00 price objective on shares of Apple in a report on Wednesday, October 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $240.00 price objective on shares of Apple in a report on Tuesday, September 11th. Finally, Wells Fargo & Co set a $210.00 price objective on Apple and gave the stock a “neutral” rating in a report on Wednesday, September 5th. Four equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $219.95.
AAPL stock opened at $168.49 on Friday. The company has a market cap of $868.46 billion, a PE ratio of 14.15, a PEG ratio of 1.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. Apple Inc. has a one year low of $150.24 and a one year high of $233.47.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 EPS. Analysts forecast that Apple Inc. will post 13.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s payout ratio is presently 24.52%.
In other news, COO Jeffrey E. Williams sold 61,998 shares of Apple stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $232.33, for a total transaction of $14,403,995.34. Following the sale, the chief operating officer now owns 124,695 shares of the company’s stock, valued at approximately $28,970,389.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Luca Maestri sold 100,245 shares of Apple stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $228.56, for a total transaction of $22,911,997.20. Following the sale, 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. In the last ninety days, insiders have sold 204,845 shares of company stock worth $47,015,677. Corporate insiders own 0.08% of the company’s stock.
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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