Jensen Investment Management Inc. Has $854.57 Million Stake in Apple Inc. (NASDAQ:AAPL)

Jensen Investment Management Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 5.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,667,698 shares of the iPhone maker’s stock after selling 216,385 shares during the quarter. Apple comprises about 7.1% of Jensen Investment Management Inc.’s portfolio, making the stock its 2nd largest holding. Jensen Investment Management Inc.’s holdings in Apple were worth $854,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Lantz Financial LLC raised its holdings in shares of Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares during the period. ADE LLC increased its holdings in Apple by 2.4% during the 2nd quarter. ADE LLC now owns 15,513 shares of the iPhone maker’s stock worth $3,267,000 after purchasing an additional 361 shares in the last quarter. Greenspring Advisors LLC increased its holdings in Apple by 3.2% during the 2nd quarter. Greenspring Advisors LLC now owns 35,612 shares of the iPhone maker’s stock worth $7,501,000 after purchasing an additional 1,120 shares in the last quarter. Long Run Wealth Advisors LLC raised its stake in shares of Apple by 11.6% in the 2nd quarter. Long Run Wealth Advisors LLC now owns 33,263 shares of the iPhone maker’s stock valued at $7,006,000 after purchasing an additional 3,458 shares during the period. Finally, OMNI 360 Wealth Inc. lifted its holdings in shares of Apple by 1.9% in the second quarter. OMNI 360 Wealth Inc. now owns 16,625 shares of the iPhone maker’s stock valued at $3,502,000 after purchasing an additional 317 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Barclays lifted their target price on Apple to $184.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Wedbush boosted their price objective on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Citigroup increased their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Moffett Nathanson restated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.8 %

Shares of NASDAQ:AAPL opened at $229.98 on Friday. The stock has a market cap of $3.48 trillion, a PE ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The business has a 50 day moving average of $240.95 and a 200-day moving average of $230.56.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Apple 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.