PGGM Investments Reduces Stock Holdings in Apple Inc. $AAPL

Key Points

• PGGM Investments has significantly reduced its stake in Apple Inc. by 78.1%, holding 229,664 shares after selling 816,839 shares during the second quarter.
• Apple's recent earnings report revealed an EPS of $1.57, exceeding analysts' expectations of $1.43, with revenue reaching $94.04 billion, a 9.6% increase year-over-year.
• The company has declared a quarterly dividend of $0.26 per share, which translates to an annual yield of 0.4%, reflecting a payout ratio of 15.78%.

PGGM Investments lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 78.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 229,664 shares of the iPhone maker's stock after selling 816,839 shares during the quarter. PGGM Investments' holdings in Apple were worth $47,120,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its stake in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of Apple stock opened at $252.29 on Friday. The business has a 50 day simple moving average of $241.13 and a two-hundred day simple moving average of $216.81. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $3.74 trillion, a P/E ratio of 38.28, a PEG ratio of 2.46 and a beta of 1.09. 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 announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating 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 business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. CLSA upgraded Apple to a "strong-buy" rating in a research note on Sunday, October 5th. 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. Melius Research set a $290.00 target price on Apple and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Tigress Financial upped their price target on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a report on Wednesday, September 17th. 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 stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $248.29.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 47,125 shares of the company'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 value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Deirdre O'brien sold 43,013 shares of the company's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,121 shares of company stock valued at $65,358,981 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

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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