Diamant Asset Management Inc. Has $24.58 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Diamant Asset Management Inc. has reduced its holdings in Apple Inc. by 2.0% to 119,791 shares, worth approximately $24.58 million, making it their largest stock position.
• Apple reported a 9.6% year-over-year revenue increase with earnings per share of $1.57, exceeding estimates and showcasing a strong net margin of 24.30%.
• CEO Timothy D. Cook sold 129,963 shares of Apple stock valued at approximately $33.4 million, representing a 3.81% decrease in his ownership.

Diamant Asset Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,791 shares of the iPhone maker's stock after selling 2,391 shares during the period. Apple comprises 18.7% of Diamant Asset Management Inc.'s holdings, making the stock its largest position. Diamant Asset Management Inc.'s holdings in Apple were worth $24,578,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in Apple by 573,627.2% during the 2nd 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 in the last quarter. Northern Trust Corp increased its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Apple by 14.3% during the 4th 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 worth $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Apple by 1.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker's stock worth $21,790,933,000 after purchasing an additional 984,157 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 3.5%

Shares of NASDAQ:AAPL opened at $245.27 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. The company has a 50-day simple moving average of $237.61 and a 200 day simple moving average of $215.83. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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 the consensus estimate of $88.64 billion. During the same period last year, the business posted $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid 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 dividend payout ratio (DPR) is 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. CLSA upgraded Apple to a "strong-buy" rating in a report on Sunday, October 5th. Rosenblatt Securities increased their target price on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Seaport Res Ptn upgraded Apple to a "strong-buy" rating in a report on Wednesday, October 1st. Weiss Ratings restated a "hold (c+)" rating on shares of Apple in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $298.00 price objective on Apple and gave the company an "overweight" rating in a report on Thursday, October 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $248.29.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company's stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company's stock.

About Apple

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.

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