Foresters Investment Management Company Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,580 shares of the iPhone maker’s stock after selling 75,167 shares during the period. Apple makes up 1.0% of Foresters Investment Management Company Inc.’s holdings, making the stock its 14th biggest holding. Foresters Investment Management Company Inc.’s holdings in Apple were worth $50,411,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in Apple by 11,234.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 160,579,635 shares of the iPhone maker’s stock worth $1,018,000 after purchasing an additional 159,162,851 shares in the last quarter. Geode Capital Management LLC grew its position in Apple by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 58,414,412 shares of the iPhone maker’s stock worth $9,198,612,000 after purchasing an additional 3,534,127 shares in the last quarter. Morgan Stanley grew its position in Apple by 9.7% in the 3rd quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock worth $8,846,307,000 after purchasing an additional 3,452,792 shares in the last quarter. Janus Henderson Group PLC grew its position in Apple by 18.8% in the 3rd quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock worth $4,703,027,000 after purchasing an additional 3,293,674 shares in the last quarter. Finally, Flossbach Von Storch AG grew its position in Apple by 1,304.5% in the 4th quarter. Flossbach Von Storch AG now owns 1,598,584 shares of the iPhone maker’s stock worth $252,161,000 after purchasing an additional 1,484,764 shares in the last quarter. 58.61% of the stock is owned by institutional investors.
In related news, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the sale, the chief operating officer now directly owns 151,187 shares in the company, valued at approximately $31,803,697.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the completion of the sale, the director now owns 1,168,283 shares in the company, valued at $246,344,153.38. The disclosure for this sale can be found here. Insiders have sold a total of 142,549 shares of company stock worth $29,300,960 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. Apple’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.73 EPS. As a group, research analysts forecast that Apple Inc. will post 11.48 EPS for the current year.
Apple announced that its board has initiated a stock buyback program on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.77 per share. This is a boost from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is presently 25.86%.
A number of equities research analysts have issued reports on the stock. Daiwa Capital Markets set a $212.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, June 5th. BidaskClub downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Apple in a research report on Tuesday, June 4th. Credit Suisse Group set a $209.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Finally, UBS Group set a $225.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $207.57.
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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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