Murphy Pohlad Asset Management LLC Has $3.72 Million Stake in Apple Inc. (NASDAQ:AAPL)

Murphy Pohlad Asset Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 10.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,638 shares of the iPhone maker’s stock after selling 2,000 shares during the quarter. Apple makes up 1.6% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding. Murphy Pohlad Asset Management LLC’s holdings in Apple were worth $3,715,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Apple in the fourth quarter worth $33,912,466,000. Vanguard Group Inc. boosted its holdings in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Swedbank AB acquired a new stake in Apple in the 1st quarter worth $3,026,492,000. Global Assets Advisory LLC raised its position in shares of Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after buying an additional 9,200,345 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Trading Down 0.1 %

Shares of NASDAQ AAPL opened at $222.50 on Friday. The company’s 50 day simple moving average is $223.14 and its 200 day simple moving average is $198.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is currently 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, August 27th. Sanford C. Bernstein lifted their price target on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their target price for the company from $170.00 to $300.00 in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $238.62.

Apple Company Profile

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.