Hirtle Callaghan & Co LLC Has $641,000 Position in Apple Inc. $AAPL

Key Points

• Hirtle Callaghan & Co LLC significantly reduced its Apple Inc. holdings by 96.1% in the first quarter, resulting in ownership of only 2,885 shares valued at $641,000.
• Apple reported a quarterly earnings per share of $1.57, surpassing estimates and achieving revenue of $94.04 billion, reflecting a 9.6% year-over-year increase.
• Analysts maintain a positive outlook for Apple, with multiple firms reiterating "buy" or "outperform" ratings and target prices reaching as high as $270.

Hirtle Callaghan & Co LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 96.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,885 shares of the iPhone maker's stock after selling 70,981 shares during the quarter. Hirtle Callaghan & Co LLC's holdings in Apple were worth $641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $46,868,648,000. GAMMA Investing LLC increased its holdings in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. increased its holdings in Apple by 3.7% in 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 last quarter. Northern Trust Corp increased its holdings in Apple by 13.3% in 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Apple by 14.3% in 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 last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's 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 owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. The Goldman Sachs Group reissued a "buy" rating and issued a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Evercore ISI reissued an "outperform" rating and issued a $250.00 price objective on shares of Apple in a report on Wednesday, August 13th. DA Davidson reaffirmed a "buy" rating and set a $250.00 target price on shares of Apple in a report on Friday, August 1st. Finally, Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price for the company in a report on Thursday. Two 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 given a Sell rating to the stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $239.05.

Apple Stock Down 0.0%

NASDAQ:AAPL traded down $0.09 during trading hours on Friday, hitting $239.69. 54,829,143 shares of the stock traded hands, compared to its average volume of 47,688,568. The firm has a 50 day moving average price of $219.28 and a 200 day moving average price of $212.64. 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 fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for 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%. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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