Parnassus Investments LLC Sells 271,469 Shares of Apple Inc. (NASDAQ:AAPL)
Parnassus Investments LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,935,571 shares of the iPhone maker's stock after selling 271,469 shares during the period. Apple accounts for 2.2% of Parnassus Investments LLC's portfolio, making the stock its 15th largest holding. Parnassus Investments LLC's holdings in Apple were worth $985,546,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Empirical Finance LLC raised its position in shares of Apple by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 515,494 shares of the iPhone maker's stock valued at $120,110,000 after purchasing an additional 9,628 shares during the period. Valley Wealth Managers Inc. raised its position in shares of Apple by 1.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 205,177 shares of the iPhone maker's stock valued at $47,806,000 after purchasing an additional 2,579 shares during the period. Altrius Capital Management Inc raised its position in shares of Apple by 7.2% during the 3rd quarter. Altrius Capital Management Inc now owns 4,294 shares of the iPhone maker's stock valued at $1,001,000 after purchasing an additional 288 shares during the period. First Long Island Investors LLC raised its position in shares of Apple by 91.5% during the 3rd quarter. First Long Island Investors LLC now owns 163,068 shares of the iPhone maker's stock valued at $37,995,000 after purchasing an additional 77,914 shares during the period. Finally, Seelaus Asset Management LLC raised its position in shares of Apple by 28.5% during the 3rd quarter. Seelaus Asset Management LLC now owns 36,291 shares of the iPhone maker's stock valued at $8,456,000 after purchasing an additional 8,045 shares during the period. 67.73% of the stock is currently owned by institutional investors.
NASDAQ:AAPL opened at $195.27 on Friday. The company has a market cap of $2.92 trillion, a PE ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company's 50 day moving average is $205.04 and its two-hundred day moving average is $225.92.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the business posted $1.53 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple declared that its board has initiated a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.
In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.
AAPL has been the topic of several recent analyst reports. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Monday, May 12th. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Maxim Group raised their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Finally, Argus upgraded shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Read Our Latest Analysis on Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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