Apple Inc. $AAPL Stock Position Decreased by Coastwise Capital Group LLC

Coastwise Capital Group LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,289 shares of the iPhone maker's stock after selling 1,356 shares during the quarter. Apple comprises approximately 6.0% of Coastwise Capital Group LLC's portfolio, making the stock its 2nd biggest position. Coastwise Capital Group LLC's holdings in Apple were worth $7,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the period. Geode Capital Management LLC lifted its position in Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares during the period. Norges Bank purchased a new position in Apple during the fourth quarter valued at $46,868,648,000. Northern Trust Corp lifted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 14.3% during 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 buying an additional 13,137,968 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Raymond James Financial reissued an "outperform" rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Wedbush reissued an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Wednesday. UBS Group raised their price objective on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, Citigroup raised their price target on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $239.05.

Insider Activity

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock traded down $0.67 during trading hours on Thursday, reaching $237.81. 23,367,216 shares of the stock traded hands, compared to its average volume of 56,619,613. The company has a 50 day moving average price of $217.73 and a 200 day moving average price of $212.92. The firm has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.42 and a beta of 1.11. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 170.91% and a net margin of 24.30%.The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 was Monday, August 11th. Apple's payout ratio is currently 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.