Apple Inc. $AAPL Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors LLC decreased its stake in Apple Inc. by 2.0% in the first quarter, holding approximately $948.56 million worth of shares, representing 4.7% of its investment portfolio.
• Apple's stock has recently traded up 0.9% to $232.56, with a market cap of $3.45 trillion and a strong financial performance including a quarterly revenue of $94.04 billion.
• The company declared a quarterly dividend of $0.26 per share and authorized a stock buyback program worth $100 billion, signaling the board's belief in the stock's undervaluation.

Nisa Investment Advisors LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,270,292 shares of the iPhone maker's stock after selling 85,155 shares during the period. Apple comprises 4.7% of Nisa Investment Advisors LLC's holdings, making the stock its 2nd largest position. Nisa Investment Advisors LLC's holdings in Apple were worth $948,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at approximately $47,000. Elite Financial Inc. bought a new stake in Apple in the 1st quarter valued at $58,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter valued at $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter worth $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at $82,000. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

NASDAQ:AAPL traded down $0.42 during trading hours on Friday, hitting $232.14. The company's stock had a trading volume of 39,382,353 shares, compared to its average volume of 58,935,340. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.45 trillion, a P/E ratio of 35.23, a PEG ratio of 2.43 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a fifty day simple moving average of $215.79 and a 200-day simple moving average of $213.08.

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, beating analysts' consensus estimates of $1.43 by $0.14. The company 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%. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $1.40 EPS. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAPL shares. Barclays boosted their price objective on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Loop Capital dropped their price target on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Evercore ISI restated an "outperform" rating and issued a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

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.