Heritage Investors Management Corp Has $162.31 Million Position in Apple Inc. $AAPL

Heritage Investors Management Corp lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 730,807 shares of the iPhone maker's stock after selling 5,283 shares during the quarter. Apple accounts for about 5.6% of Heritage Investors Management Corp's investment portfolio, making the stock its biggest holding. Heritage Investors Management Corp's holdings in Apple were worth $162,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its position in shares of Apple by 3.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,939,123 shares of the iPhone maker's stock worth $430,738,000 after purchasing an additional 59,285 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Apple by 68.9% in the first quarter. J.W. Cole Advisors Inc. now owns 948,914 shares of the iPhone maker's stock worth $210,782,000 after purchasing an additional 386,953 shares in the last quarter. BKM Wealth Management LLC lifted its position in shares of Apple by 2.6% in the first quarter. BKM Wealth Management LLC now owns 51,199 shares of the iPhone maker's stock worth $11,373,000 after purchasing an additional 1,310 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Apple by 25.4% in the first quarter. IFP Advisors Inc now owns 424,273 shares of the iPhone maker's stock worth $94,254,000 after purchasing an additional 85,862 shares in the last quarter. Finally, Aspen Capital Management LLC bought a new stake in Apple during the first quarter worth $4,861,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Shares of AAPL traded down $0.67 during mid-day trading on Thursday, reaching $237.81. The company had a trading volume of 23,367,216 shares, compared to its average volume of 56,619,613. The company's 50 day simple moving average is $217.73 and its 200 day simple moving average is $212.92. The company has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.42 and a beta of 1.11. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $1.40 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Evercore ISI reaffirmed an "outperform" rating and set a $250.00 price target on shares of Apple in a research report on Wednesday, August 13th. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research note on Thursday, August 21st. Finally, Bank of America increased their price objective on shares of Apple from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $239.05.

About Apple

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.