American Research & Management Co. Has $8.47 Million Holdings in Apple Inc. (NASDAQ:AAPL)

American Research & Management Co. cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,813 shares of the iPhone maker’s stock after selling 795 shares during the period. Apple makes up 2.5% of American Research & Management Co.’s holdings, making the stock its 11th largest position. American Research & Management Co.’s holdings in Apple were worth $8,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Apple by 2.6% in the 2nd quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock valued at $9,278,319,000 after purchasing an additional 1,203,705 shares during the period. Morgan Stanley raised its holdings in shares of Apple by 5.8% in the 2nd quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after purchasing an additional 1,996,126 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Apple by 2,874.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after purchasing an additional 34,707,634 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Apple by 0.8% in the 2nd 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 purchasing an additional 161,912 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Apple by 2.2% in the 3rd quarter. Fisher Asset Management LLC now owns 14,041,509 shares of the iPhone maker’s stock valued at $3,144,877,000 after purchasing an additional 302,917 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 61,659 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $228.38, for a total transaction of $14,081,682.42. Following the transaction, the chief financial officer now owns 85,507 shares in the company, valued at approximately $19,528,088.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 448,158 shares of company stock worth $97,019,630. Company insiders own 0.05% of the company’s stock.

A number of brokerages have recently issued reports on AAPL. ValuEngine cut shares of Apple from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Loop Capital upped their target price on shares of Apple to $250.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Monness Crespi & Hardt upped their target price on shares of Apple from $265.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Macquarie set a $210.00 target price on shares of Apple and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Bank of America upped their target price on shares of Apple from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $239.51.

Shares of NASDAQ:AAPL opened at $262.20 on Tuesday. The company’s 50 day moving average price is $237.05 and its two-hundred day moving average price is $210.09. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $262.47. The firm has a market cap of $1,142.50 billion, a PE ratio of 22.05, a PEG ratio of 1.83 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01.

Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter in the prior year, the business posted $2.91 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 13.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.77 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.17%. Apple’s payout ratio is presently 25.90%.

Apple Company Profile

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.

Further Reading: What is the return on assets (ROA) ratio?

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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