Apple Inc. $AAPL Shares Sold by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC reduced its holdings in Apple by 2.4% during the second quarter, now owning approximately 475,911 shares valued at $97.6 million.
• Institutional investors currently own 67.73% of Apple's stock, with several funds either increasing or decreasing their positions in the company.
• Analysts maintain a "Moderate Buy" rating for Apple, with a target price average of $241.93, reflecting a mix of buy, hold, and sell ratings from various firms.

Zevenbergen Capital Investments LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,911 shares of the iPhone maker's stock after selling 11,620 shares during the quarter. Apple comprises approximately 1.9% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 16th biggest holding. Zevenbergen Capital Investments LLC's holdings in Apple were worth $97,643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter worth $47,000. Elite Financial Inc. purchased a new position in shares of Apple during the first quarter worth $58,000. Conquis Financial LLC acquired a new position in Apple during the fourth quarter valued at $63,000. Finally, LSV Asset Management acquired a new position in Apple during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In other Apple 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 transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $10.58 during trading on Monday, reaching $256.08. The stock had a trading volume of 105,286,841 shares, compared to its average volume of 53,632,036. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a market cap of $3.80 trillion, a PE ratio of 38.86, a PEG ratio of 2.55 and a beta of 1.11. The business has a fifty day moving average price of $225.30 and a 200-day moving average price of $212.22.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 EPS. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday. Evercore ISI boosted their price target on Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Melius Research set a $290.00 price objective on shares of Apple and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $244.03.

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.