Thompson Siegel & Walmsley LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Thompson Siegel & Walmsley LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,120 shares of the iPhone maker's stock after selling 14,648 shares during the period. Thompson Siegel & Walmsley LLC's holdings in Apple were worth $45,857,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. FMR LLC grew its stake in Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last quarter. Company insiders own 0.06% of the company's stock.

Apple Stock Down 3.0%

NASDAQ AAPL opened at $195.27 on Friday. The stock has a market cap of $2.92 trillion, a PE ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a 50-day simple moving average of $205.04 and a 200 day simple moving average of $225.92.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's payout ratio is presently 16.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. UBS Group reduced their target price on Apple from $236.00 to $210.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a report on Friday, May 2nd. China Renaissance assumed coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.

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.

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.