Border to Coast Pensions Partnership Ltd Reduces Holdings in Apple Inc. $AAPL

Key Points

• Border to Coast Pensions Partnership Ltd reduced its holding in Apple Inc. by 3.4%, selling 40,871 shares and now owns 1,161,439 shares, making it Apple's 5th largest position in their portfolio.
• Several large investors have adjusted their stakes in Apple recently, with significant increases by ROSS JOHNSON & Associates LLC and new positions from Ryan Investment Management Inc. and others.
• Apple's recent earnings report showed a revenue of $94.04 billion and EPS of $1.57, exceeding analyst estimates; the company also announced a quarterly dividend of $0.26 per share.

Border to Coast Pensions Partnership Ltd trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,161,439 shares of the iPhone maker's stock after selling 40,871 shares during the period. Apple comprises about 4.4% of Border to Coast Pensions Partnership Ltd's holdings, making the stock its 5th largest position. Border to Coast Pensions Partnership Ltd's holdings in Apple were worth $238,292,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Ryan Investment Management Inc. bought a new position in shares of Apple during the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% during the first 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. Conquis Financial LLC purchased a new stake in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new stake in Apple during the fourth quarter worth about $65,000. Finally, Elite Financial Inc. purchased a new stake in Apple during the first quarter worth about $58,000. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $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 available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Finally, Wedbush set a $310.00 target price on shares of Apple and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $245.51.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $255.45 on Thursday. The company has a 50 day moving average of $231.34 and a 200 day moving average of $214.08. The stock has a market cap of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.64 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last announced its earnings results 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the business posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

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.

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.