Teacher Retirement System of Texas decreased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,398,516 shares of the iPhone maker’s stock after selling 331,568 shares during the period. Apple accounts for about 5.4% of Teacher Retirement System of Texas’ holdings, making the stock its biggest position. Teacher Retirement System of Texas’ holdings in Apple were worth $746,075,000 as of its most recent filing with the SEC.
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Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Ramsey Quantitative Systems purchased a new position in Apple during the 2nd quarter valued at about $55,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Apple in the third quarter worth approximately $55,000. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Newfound Research LLC purchased a new position in Apple during the third quarter valued at approximately $67,000. Finally, Emerson Wealth LLC lifted its holdings in Apple by 27.0% during the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.
Insider Transactions at Apple
In other news, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.
Analyst Upgrades and Downgrades
AAPL has been the topic of several research reports. Cowen reduced their price target on shares of Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. UBS Group set a $180.00 price target on shares of Apple in a research report on Monday, February 6th. Citigroup reissued a “buy” rating and set a $175.00 price target on shares of Apple in a research report on Tuesday, November 8th. Rosenblatt Securities upped their price objective on shares of Apple from $165.00 to $173.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $160.00 price objective on shares of Apple in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $165.15.
Apple Price Performance
AAPL stock opened at $152.55 on Friday. The stock has a 50-day moving average price of $139.51 and a two-hundred day moving average price of $147.78. The stock has a market cap of $2.41 trillion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The business had revenue of $117.15 billion for the quarter, compared to analyst estimates of $121.67 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. Apple’s dividend payout ratio is currently 15.62%.
Apple Company Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties 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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