Texas Permanent School Fund lowered its position in Apple Inc. (NASDAQ:AAPL) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791,296 shares of the iPhone maker’s stock after selling 51,657 shares during the quarter. Apple makes up approximately 2.8% of Texas Permanent School Fund’s portfolio, making the stock its 2nd biggest position. Texas Permanent School Fund’s holdings in Apple were worth $177,227,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. raised its holdings in shares of Apple by 2.6% during the second quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock valued at $9,278,319,000 after acquiring an additional 1,203,705 shares in the last quarter. Morgan Stanley raised its holdings in shares of Apple by 5.8% during the second quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after acquiring an additional 1,996,126 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Apple by 2,874.9% during the second quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after acquiring an additional 34,707,634 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Apple by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock valued at $4,006,058,000 after acquiring an additional 161,912 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Apple by 2.2% during the third quarter. Fisher Asset Management LLC now owns 14,041,509 shares of the iPhone maker’s stock valued at $3,144,877,000 after acquiring an additional 302,917 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on AAPL. DA Davidson upped their target price on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, October 29th. They noted that the move was a valuation call. Bank of America upped their target price on Apple from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, October 28th. BidaskClub upgraded Apple from a “buy” rating to a “strong-buy” rating in a report on Friday, September 27th. Finally, Macquarie set a $210.00 target price on Apple and gave the company a “hold” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $239.51.
Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $2.91 EPS. Equities analysts predict that Apple Inc. will post 13.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, November 7th. Apple’s dividend payout ratio is presently 25.90%.
In other Apple news, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the transaction, the director now owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. Insiders have sold a total of 465,658 shares of company stock valued at $100,549,205 in the last 90 days. 0.05% of the stock is currently owned by company insiders.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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