Apple Inc. $AAPL Shares Sold by Fisher Funds Management LTD

Fisher Funds Management LTD reduced its position in Apple Inc. (NASDAQ:AAPL) by 22.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,471 shares of the iPhone maker’s stock after selling 74,314 shares during the quarter. Apple makes up 1.9% of Fisher Funds Management LTD’s portfolio, making the stock its 9th largest holding. Fisher Funds Management LTD’s holdings in Apple were worth $66,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Reyes Financial Architecture Inc. lifted its position in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after buying an additional 37 shares during the period. WESPAC Advisors LLC grew its position in Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after acquiring an additional 39 shares during the period. Interactive Financial Advisors Inc. raised its stake in Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after acquiring an additional 40 shares in the last quarter. Orion Investment Co lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after acquiring an additional 41 shares during the period. Finally, Seven Springs Wealth Group LLC boosted its stake in shares of Apple by 0.3% in the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 6.1%

Shares of NASDAQ AAPL opened at $275.15 on Friday. The firm’s 50-day simple moving average is $292.16 and its 200 day simple moving average is $273.12. The company has a market cap of $4.04 trillion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12-month low of $199.26 and a 12-month high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. On average, research analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is currently 13.06%.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 97,875 shares of company stock valued at $24,998,541 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Evercore reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. Bank of America restated a “buy” rating and issued a $380.00 price target on shares of Apple in a research report on Thursday, June 18th. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt raised their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts say the price hikes could help Apple protect margins by passing through rising component costs, and long-term bulls still view the company as financially strong. Article Title
• Neutral Sentiment: Apple’s AI strategy remains a work in progress, with some coverage saying the company’s AI upgrade likely will not be a major near-term catalyst for the stock. Article Title
• Negative Sentiment: Apple’s decision to raise Mac and iPad prices has sparked concern about weaker demand and “demand friction,” especially if consumers push back on higher-priced devices. Article Title
• Negative Sentiment: Broader market weakness and a tech selloff added pressure, with Apple leading the downside among major technology names. Article Title

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.