AR Asset Management Inc. Has $63 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

AR Asset Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 251,588 shares of the iPhone maker's stock after selling 2,200 shares during the quarter. Apple makes up 14.3% of AR Asset Management Inc.'s investment portfolio, making the stock its largest holding. AR Asset Management Inc.'s holdings in Apple were worth $63,003,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in AAPL. AMF Tjanstepension AB boosted its stake in Apple by 21.1% during the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker's stock valued at $787,631,000 after purchasing an additional 588,427 shares during the period. Latitude Advisors LLC increased its position in Apple by 0.3% in the 3rd quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker's stock worth $4,016,000 after buying an additional 50 shares during the period. Valmark Advisers Inc. lifted its holdings in shares of Apple by 1.0% during the third quarter. Valmark Advisers Inc. now owns 197,176 shares of the iPhone maker's stock worth $45,942,000 after buying an additional 1,998 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Apple by 7.1% in the third quarter. Fidelis Capital Partners LLC now owns 220,444 shares of the iPhone maker's stock valued at $50,870,000 after acquiring an additional 14,616 shares during the period. Finally, Deltec Asset Management LLC grew its stake in shares of Apple by 23.0% in the third quarter. Deltec Asset Management LLC now owns 32,613 shares of the iPhone maker's stock worth $7,599,000 after acquiring an additional 6,093 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AAPL shares. Wedbush cut their target price on shares of Apple from $325.00 to $250.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Monness Crespi & Hardt upped their price target on Apple to $245.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Bank of America decreased their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $232.63.

Insider Activity

In other news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock worth $41,760,140 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.4 %

Shares of NASDAQ AAPL traded up $0.82 during midday trading on Thursday, reaching $213.32. 55,559,513 shares of the stock were exchanged, compared to its average volume of 56,562,730. Apple Inc. has a 12 month low of $169.11 and a 12 month high of $260.10. The company has a market capitalization of $3.20 trillion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50-day simple moving average of $213.66 and a two-hundred day simple moving average of $228.95.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. During the same period in the previous year, the business earned $1.53 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 15.87%.

Apple 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.