Apple Inc. (NASDAQ:AAPL) Position Cut by TIAA Trust National Association

TIAA Trust National Association lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,810,458 shares of the iPhone maker’s stock after selling 56,618 shares during the period. Apple accounts for 1.2% of TIAA Trust National Association’s portfolio, making the stock its 24th biggest holding. TIAA Trust National Association’s holdings in Apple were worth $348,567,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAPL. Wyrmwood Management LLC lifted its holdings in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC lifted its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. PayPay Securities Corp lifted its stake in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the period. Cordant Inc. boosted its holdings in shares of Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in shares of Apple during the fourth quarter valued at approximately $132,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $165.84 on Tuesday. The business has a 50 day moving average of $174.24 and a 200-day moving average of $182.10. The firm has a market cap of $2.56 trillion, a PE ratio of 25.83, a P/E/G ratio of 1.99 and a beta of 1.27. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the prior year, the firm earned $1.88 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is presently 14.95%.

Insider Activity

In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock worth $63,653,887 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AAPL shares. Monness Crespi & Hardt raised their target price on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Apple in a report on Tuesday, April 16th. DZ Bank reissued a “hold” rating and set a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Finally, Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.05.

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.