Apple Inc. $AAPL Stock Position Lowered by AMF Tjanstepension AB

AMF Tjanstepension AB cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,211,366 shares of the iPhone maker's stock after selling 118,148 shares during the quarter. Apple accounts for about 4.4% of AMF Tjanstepension AB's investment portfolio, making the stock its 4th largest holding. AMF Tjanstepension AB's holdings in Apple were worth $658,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC grew its holdings in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new stake in Apple during the 1st quarter valued at $17,472,482,000. Northern Trust Corp grew its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Amundi increased its position in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker's stock valued at $13,870,795,000 after acquiring an additional 14,651,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Apple by 14.3% in the fourth 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 valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Activity

In other news, CFO Kevan Parekh sold 4,199 shares of the company's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares of the company's stock, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,121 shares of company stock valued at $65,358,981 in the last quarter. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Jefferies Financial Group cut Apple from a "moderate sell" rating to a "strong sell" rating in a report on Monday, October 20th. DA Davidson reissued a "neutral" rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Melius Research set a $290.00 price target on shares of Apple and gave the company a "buy" rating in a report on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.47.

Apple Trading Up 1.2%

NASDAQ AAPL opened at $262.82 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $265.29. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock's fifty day moving average price is $244.15 and its 200-day moving average price is $219.51. The stock has a market cap of $3.90 trillion, a P/E ratio of 39.88, a P/E/G ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The company 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%. Apple's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend 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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.