Sustainable Insight Capital Management LLC Has $15.37 Million Stock Position in Apple Inc. $AAPL

Key Points

• Sustainable Insight Capital Management LLC reduced its stake in Apple Inc. by 2.3%, holding 69,177 shares worth approximately $15.37 million, making it the firm's largest position at about 7.6% of their total holdings.
• Several hedge funds increased their positions in Apple, with Public Sector Pension Investment Board raising its stake by 11.6%, now owning shares valued at over $1.19 billion.
• Analysts have mixed ratings for Apple, with target prices ranging from $173 to $270, resulting in a consensus rating of "Moderate Buy" and an average target price of around $240.80.

Sustainable Insight Capital Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,177 shares of the iPhone maker's stock after selling 1,663 shares during the period. Apple accounts for approximately 7.6% of Sustainable Insight Capital Management LLC's portfolio, making the stock its biggest holding. Sustainable Insight Capital Management LLC's holdings in Apple were worth $15,366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new position in Apple during the fourth quarter valued at about $47,000. Elite Financial Inc. bought a new position in Apple during the first quarter valued at about $58,000. Conquis Financial LLC bought a new position in Apple during the fourth quarter valued at about $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the fourth quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of AAPL traded up $3.89 on Friday, hitting $233.92. The company's stock had a trading volume of 35,600,487 shares, compared to its average volume of 56,755,895. The company has a market capitalization of $3.47 trillion, a PE ratio of 35.46, a PEG ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a 50 day moving average price of $221.08 and a 200 day moving average price of $212.48.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 34,821 shares of the business'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. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AAPL shares. Evercore ISI lifted their price objective on Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective on the stock. in a report on Thursday. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Morgan Stanley set a $240.00 price objective on Apple and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $240.80.

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.