Ilmarinen Mutual Pension Insurance Co Sells 20,000 Shares of Apple Inc. $AAPL

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Apple Inc. by 1.5%, now holding 1,275,000 shares valued at approximately $283.2 million, making Apple its 5th largest position.
• Apple reported earnings of $1.57 per share for the last quarter, exceeding analysts' expectations, and its revenue was up 9.6% year-over-year at $94.04 billion.
• The company recently announced a quarterly dividend of $0.26 per share, translating to an annual yield of 0.4%, with a payout ratio of 15.78%.

Ilmarinen Mutual Pension Insurance Co lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,275,000 shares of the iPhone maker's stock after selling 20,000 shares during the period. Apple accounts for approximately 2.5% of Ilmarinen Mutual Pension Insurance Co's portfolio, making the stock its 5th largest holding. Ilmarinen Mutual Pension Insurance Co's holdings in Apple were worth $283,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at about $47,000. Elite Financial Inc. purchased a new stake in shares of Apple in the first quarter valued at about $58,000. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $63,000. Finally, LSV Asset Management acquired a new position in shares of Apple in the fourth quarter valued at approximately $65,000. 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 a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Tuesday, September 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. JPMorgan Chase & Co. upped their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Barclays upped their price target on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Finally, DA Davidson reaffirmed a "neutral" rating and set a $250.00 price target on shares of Apple in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $240.80.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

Apple Stock Up 1.8%

AAPL traded up $4.04 during trading hours on Friday, reaching $234.07. 55,768,555 shares of the stock traded hands, compared to its average volume of 45,223,864. The firm's fifty day simple moving average is $221.50 and its two-hundred day simple moving average is $212.20. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

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 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 analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. As a group, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed 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 yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is 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.