Progressive Investment Management Corp trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 199,142 shares of the iPhone maker’s stock after selling 11,356 shares during the period. Apple makes up approximately 12.0% of Progressive Investment Management Corp’s holdings, making the stock its largest position. Progressive Investment Management Corp’s holdings in Apple were worth $38,628,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. Berkshire Hathaway Inc raised its holdings in Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after acquiring an additional 20,424,207 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC raised its holdings in Apple by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after acquiring an additional 2,421,295 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Apple by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after acquiring an additional 7,736,013 shares during the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock worth $79,238,767 in the last three months. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Up 1.2 %
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, equities research analysts anticipate that Apple Inc. will post 6.04 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s dividend payout ratio is currently 16.13%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on AAPL. The Goldman Sachs Group decreased their price objective on shares of Apple from $222.00 to $216.00 and set a “buy” rating for the company in a report on Wednesday, September 13th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. Citigroup reaffirmed a “buy” rating and issued a $240.00 target price on shares of Apple in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research report on Monday. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $198.80.
Read Our Latest Stock Analysis on AAPL
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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