Apple Inc. $AAPL Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 291,940 shares of the iPhone maker's stock after selling 4,431 shares during the quarter. Apple accounts for 5.1% of Frank Rimerman Advisors LLC's portfolio, making the stock its 3rd biggest holding. Frank Rimerman Advisors LLC's holdings in Apple were worth $64,849,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its holdings in shares of Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Geode Capital Management LLC grew its position in shares of Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at approximately $46,868,648,000. Northern Trust Corp increased its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. DA Davidson reiterated a "buy" rating and set a $250.00 target price on shares of Apple in a research report on Friday, August 1st. Loop Capital reduced their price target on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. UBS Group increased their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Raymond James Financial restated an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, HSBC set a $220.00 price target on shares of Apple and gave the stock a "hold" rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.99.

Apple Price Performance

Shares of Apple stock opened at $237.88 on Tuesday. The company has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.50 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock's 50-day simple moving average is $219.93 and its 200-day simple moving average is $212.35.

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

Apple Dividend Announcement

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

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.

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