Los Angeles Capital Management LLC Sells 363,522 Shares of Apple Inc. (NASDAQ:AAPL)

Los Angeles Capital Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,847,537 shares of the iPhone maker’s stock after selling 363,522 shares during the quarter. Apple makes up approximately 6.9% of Los Angeles Capital Management LLC’s holdings, making the stock its largest holding. Los Angeles Capital Management LLC’s holdings in Apple were worth $1,534,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. OLD Mission Capital LLC acquired a new position in shares of Apple in the 3rd quarter worth approximately $1,238,000. Meitav Dash Investments Ltd. lifted its holdings in Apple by 68.6% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 583,160 shares of the iPhone maker’s stock worth $79,861,000 after buying an additional 237,361 shares in the last quarter. Ibex Investors LLC acquired a new position in Apple during the 2nd quarter worth $1,808,000. Bigelow Investment Advisors LLC lifted its holdings in Apple by 0.9% during the 2nd quarter. Bigelow Investment Advisors LLC now owns 41,866 shares of the iPhone maker’s stock worth $5,734,000 after buying an additional 381 shares in the last quarter. Finally, Fairhaven Wealth Management LLC lifted its holdings in Apple by 0.8% during the 2nd quarter. Fairhaven Wealth Management LLC now owns 67,406 shares of the iPhone maker’s stock worth $9,232,000 after buying an additional 559 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Luca Maestri sold 165,829 shares of the firm’s stock in a transaction dated Tuesday, October 19th. The stock was sold at an average price of $148.62, for a total value of $24,645,505.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 9,005 shares of the firm’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $150.00, for a total value of $1,350,750.00. The disclosure for this sale can be found here. Insiders sold a total of 218,081 shares of company stock valued at $32,383,704 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Several research analysts have issued reports on AAPL shares. Credit Suisse Group started coverage on Apple in a report on Friday, October 29th. They set a “neutral” rating and a $150.00 price objective on the stock. The Goldman Sachs Group set a $142.00 price objective on Apple in a report on Wednesday, January 5th. Oppenheimer upped their price objective on Apple from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, October 29th. Barclays upped their price objective on Apple from $142.00 to $145.00 and gave the stock an “equal weight” rating in a report on Friday, October 29th. Finally, Wedbush raised Apple to an “outperform” rating and increased their price target for the company from $185.00 to $200.00 in a research note on Thursday, December 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $176.74.

AAPL stock opened at $173.07 on Friday. The stock has a 50-day moving average price of $167.84 and a two-hundred day moving average price of $154.11. The stock has a market cap of $2.83 trillion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.73. Apple Inc. has a 1 year low of $116.21 and a 1 year high of $182.94.

Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.24. The firm had revenue of $83.40 billion during the quarter, compared to analysts’ expectations of $84.94 billion. Apple had a return on equity of 144.13% and a net margin of 25.88%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. On average, analysts forecast that Apple Inc. will post 5.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 11th. Stockholders of record on Monday, November 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, November 5th. Apple’s payout ratio is 15.66%.

Apple Company Profile

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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