Adage Capital Partners GP L.L.C. Sells 198,800 Shares of Apple Inc. $AAPL

Adage Capital Partners GP L.L.C. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, Holdings Channel reports. The firm owned 13,410,379 shares of the iPhone maker’s stock after selling 198,800 shares during the period. Apple makes up approximately 4.6% of Adage Capital Partners GP L.L.C.’s portfolio, making the stock its 3rd biggest position. Adage Capital Partners GP L.L.C.’s holdings in Apple were worth $2,751,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC increased its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its holdings in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Trading Up 0.1%

NASDAQ AAPL opened at $278.28 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The stock’s 50 day moving average price is $268.24 and its two-hundred day moving average price is $236.77. The stock has a market capitalization of $4.11 trillion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.60 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. Robert W. Baird set a $300.00 target price on Apple in a report on Friday, October 31st. Cowen restated a “buy” rating on shares of Apple in a report on Monday, October 27th. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Sanford C. Bernstein set a $325.00 price objective on Apple in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $282.51.

Insider Activity

In related news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

Apple Company 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.