Allied Investment Advisors LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Allied Investment Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,730 shares of the iPhone maker’s stock after selling 769 shares during the quarter. Apple makes up 3.8% of Allied Investment Advisors LLC’s portfolio, making the stock its 5th largest holding. Allied Investment Advisors LLC’s holdings in Apple were worth $19,276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. Dimensional Fund Advisors LP boosted its position in shares of Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Capital International Investors boosted its holdings in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after buying an additional 485,873 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

AAPL opened at $229.00 on Thursday. The stock has a market cap of $3.46 trillion, a P/E ratio of 37.66, a P/E/G ratio of 2.20 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $227.47 and a 200 day simple moving average of $217.40.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is 16.45%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Loop Capital dropped their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.25.

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.