Twin Capital Management Inc. Sells 5,711 Shares of Apple Inc. $AAPL

Twin Capital Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,094 shares of the iPhone maker's stock after selling 5,711 shares during the period. Apple makes up approximately 6.8% of Twin Capital Management Inc.'s portfolio, making the stock its largest position. Twin Capital Management Inc.'s holdings in Apple were worth $57,997,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Conquis Financial LLC acquired a new stake in Apple during the fourth quarter worth $63,000. LSV Asset Management purchased a new position in Apple in the 4th quarter valued at approximately $65,000. Elite Financial Inc. purchased a new position in Apple in the 1st quarter valued at approximately $58,000. Pillar Financial Advisors LLC purchased a new position in Apple in the 4th quarter valued at approximately $82,000. Finally, Sellwood Investment Partners LLC purchased a new position in Apple in the 4th quarter valued at approximately $147,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Stock Performance

AAPL traded down $0.67 on Thursday, reaching $237.81. The company had a trading volume of 23,367,216 shares, compared to its average volume of 56,619,613. The stock has a 50-day moving average price of $217.73 and a 200-day moving average price of $212.92. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.53 trillion, a PE ratio of 36.11, a P/E/G ratio of 2.42 and a beta of 1.11.

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 net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Barclays lifted their price objective 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. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a research report on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 25th. Finally, Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $239.05.

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.