Vision Capital Management Inc. Sells 34,865 Shares of Apple Inc. (NASDAQ:AAPL)

Vision Capital Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 13.5% during the first quarter, Holdings Channel.com reports. The fund owned 223,289 shares of the iPhone maker’s stock after selling 34,865 shares during the quarter. Apple accounts for approximately 6.4% of Vision Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Vision Capital Management Inc.’s holdings in Apple were worth $38,989,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AAPL. Norges Bank acquired a new position in Apple during the fourth quarter worth about $25,228,507,000. State Street Corp increased its stake in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Apple in the 4th quarter worth about $1,461,735,000. Capital Research Global Investors increased its stake in Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after purchasing an additional 8,154,171 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Apple by 41.8% in the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after purchasing an additional 6,154,422 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock opened at $165.35 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $2.66 trillion, a P/E ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. The business’s fifty day moving average is $146.34 and its two-hundred day moving average is $157.12. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AAPL shares. Piper Sandler decreased their price objective on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a research report on Thursday. Citigroup lifted their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Itaú Unibanco initiated coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Finally, Morgan Stanley reduced their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $179.27.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

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