Forsta AP Fonden Cuts Stock Position in Apple Inc. $AAPL

Forsta AP Fonden lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,938,800 shares of the iPhone maker's stock after selling 132,100 shares during the period. Apple makes up 6.6% of Forsta AP Fonden's portfolio, making the stock its biggest position. Forsta AP Fonden's holdings in Apple were worth $874,926,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at about $65,000. Elite Financial Inc. bought a new position in shares of Apple during the 1st quarter valued at about $58,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Apple during the 4th quarter valued at about $147,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.0%

Shares of Apple stock opened at $239.69 on Monday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market cap 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 quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business's 50 day moving average is $219.28 and its 200-day moving average is $212.40.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The business's revenue was up 9.6% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. The Goldman Sachs Group restated a "buy" rating and issued a $266.00 target price on shares of Apple in a research note on Tuesday, August 26th. Raymond James Financial restated an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. DA Davidson restated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Friday, August 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Two 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 one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $239.05.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

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.

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