Polen Capital Management LLC Has $595.56 Million Stock Position in Apple Inc. $AAPL

Key Points

• Polen Capital Management LLC reduced its stake in Apple Inc. by 56.5% in the 1st quarter, holding 2,681,114 shares valued at approximately $595.56 million.
• Apple's latest earnings report revealed a 9.6% increase in revenue year-over-year, amounting to $94.04 billion, with earnings per share of $1.57, exceeding analyst expectations.
• The company has a current market capitalization of $3.53 trillion and announced a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4%.

Polen Capital Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,681,114 shares of the iPhone maker's stock after selling 3,488,399 shares during the quarter. Apple makes up 1.9% of Polen Capital Management LLC's portfolio, making the stock its 21st largest holding. Polen Capital Management LLC's holdings in Apple were worth $595,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advanced Portfolio Management LLC lifted its stake in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC lifted its stake in Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after acquiring an additional 49 shares in the last quarter. Disciplined Investments LLC lifted its stake in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after acquiring an additional 51 shares in the last quarter. Sharpepoint LLC lifted its stake in Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after acquiring an additional 51 shares in the last quarter. Finally, Redwood Financial Network Corp lifted its stake in Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after acquiring an additional 53 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.8%

AAPL stock opened at $237.88 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.53 trillion, a PE ratio of 36.10, a PEG ratio of 2.50 and a beta of 1.11. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The business's 50 day simple moving average is $219.93 and its 200 day simple moving average is $212.35.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current 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

AAPL has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. 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. BMO Capital Markets restated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Bank of America boosted their target price on Apple from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.99.

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 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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.