Sumitomo Life Insurance Co. cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,289 shares of the iPhone maker’s stock after selling 21,420 shares during the period. Apple makes up 1.9% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 6th largest position. Sumitomo Life Insurance Co.’s holdings in Apple were worth $43,117,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its stake in shares of Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Norges Bank purchased a new stake in Apple in the fourth quarter worth about $21,746,940,000. Morgan Stanley grew its holdings in Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after purchasing an additional 25,926,552 shares during the period. Berkshire Hathaway Inc grew its holdings in Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after purchasing an additional 20,424,207 shares during the period. Finally, Providence Capital Advisors LLC lifted its stake in shares of Apple by 16,638.6% in the first quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock worth $94,566,000 after buying an additional 15,500,812 shares in the last quarter. 58.51% of the stock is owned by institutional investors.
Insider Transactions at Apple
In other news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the sale, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 31,685 shares of Apple stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 455,004 shares of company stock worth $79,238,767. 0.06% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on AAPL
Apple Stock Performance
Shares of NASDAQ:AAPL opened at $178.72 on Tuesday. The firm has a fifty day simple moving average of $178.04 and a two-hundred day simple moving average of $178.71. The stock has a market capitalization of $2.79 trillion, a P/E ratio of 30.04, a PEG ratio of 2.40 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. On average, analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. Apple’s dividend payout ratio (DPR) is presently 16.13%.
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.
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