Apple Inc. $AAPL Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB reduced its Apple Inc. stock holdings by 0.5%, selling 16,526 shares and retaining approximately 3.33 million shares in its portfolio.
• Apple's recent quarterly earnings report showed a net revenue of $94.04 billion, significantly surpassing analysts' expectations of $88.64 billion, with an EPS of $1.57.
• The company recently announced a quarterly dividend of $0.26 per share, which reflects an annual yield of 0.4% and a payout ratio of 15.78%.

AMF Tjanstepension AB reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,329,514 shares of the iPhone maker's stock after selling 16,526 shares during the quarter. Apple accounts for approximately 5.5% of AMF Tjanstepension AB's investment portfolio, making the stock its 3rd biggest holding. AMF Tjanstepension AB's holdings in Apple were worth $739,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at approximately $47,000. Elite Financial Inc. bought a new stake in Apple in the 1st quarter valued at $58,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter valued at $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter valued at $82,000. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

AAPL stock traded down $0.09 during mid-day trading on Friday, hitting $239.69. The stock had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. The firm has a fifty day simple moving average of $219.28 and a 200 day simple moving average of $212.64. The firm has a market capitalization of $3.56 trillion, a P/E ratio of 36.37, a P/E/G ratio of 2.50 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.83 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.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 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 on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Thursday. Citigroup lifted their target price on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. Finally, Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $239.05.

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.