Public Employees Retirement Association of Colorado decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,484,772 shares of the iPhone maker’s stock after selling 336,633 shares during the period. Apple comprises about 6.2% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its largest holding. Public Employees Retirement Association of Colorado owned approximately 0.06% of Apple worth $1,435,994,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in AAPL. RWWM Inc. grew its position in shares of Apple by 57.0% during the second quarter. RWWM Inc. now owns 6,448 shares of the iPhone maker’s stock worth $883,000 after acquiring an additional 2,340 shares during the last quarter. Cable Hill Partners LLC grew its position in shares of Apple by 3.7% during the second quarter. Cable Hill Partners LLC now owns 71,589 shares of the iPhone maker’s stock worth $9,805,000 after acquiring an additional 2,528 shares during the last quarter. Intellectus Partners LLC grew its position in shares of Apple by 10.3% during the second quarter. Intellectus Partners LLC now owns 30,242 shares of the iPhone maker’s stock worth $4,142,000 after acquiring an additional 2,815 shares during the last quarter. Algert Global LLC grew its position in shares of Apple by 4.7% during the second quarter. Algert Global LLC now owns 36,265 shares of the iPhone maker’s stock worth $4,967,000 after acquiring an additional 1,616 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. bought a new position in shares of Apple during the second quarter worth about $7,185,000. Hedge funds and other institutional investors own 56.38% of the company’s stock.
In other news, CEO Timothy D. Cook sold 2,386,440 shares of Apple stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total transaction of $354,577,255.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 14,877 shares of Apple stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $145.99, for a total value of $2,171,893.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,673,583 shares of company stock valued at $394,667,857. Corporate insiders own 0.06% of the company’s stock.
Apple (NASDAQ:AAPL) last issued its earnings results on Monday, July 26th. The iPhone maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.01 by $0.29. The firm had revenue of $81.40 billion during the quarter, compared to analysts’ expectations of $73.48 billion. Apple had a return on equity of 131.01% and a net margin of 25.00%. Apple’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. Analysts expect that Apple Inc. will post 5.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 26.83%.
AAPL has been the subject of several recent research reports. Piper Sandler increased their target price on shares of Apple from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating and set a $171.00 target price for the company. in a research report on Monday, July 26th. DZ Bank reiterated a “buy” rating on shares of Apple in a research report on Tuesday, August 10th. UBS Group set a $175.00 target price on shares of Apple in a research report on Wednesday, October 6th. Finally, DA Davidson increased their target price on shares of Apple from $167.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Buy” and an average target price of $164.41.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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