Apple Inc. (NASDAQ:AAPL) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI decreased its position in Apple Inc. (NASDAQ:AAPL) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,260,506 shares of the iPhone maker’s stock after selling 275,928 shares during the quarter. Apple accounts for about 6.4% of Zurich Insurance Group Ltd FI’s holdings, making the stock its biggest holding. Zurich Insurance Group Ltd FI’s holdings in Apple were worth $759,698,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Heritage Family Offices LLP acquired a new stake in Apple during the 2nd quarter worth $3,331,000. Fortress Wealth Group LLC raised its holdings in shares of Apple by 2.1% in the second quarter. Fortress Wealth Group LLC now owns 19,812 shares of the iPhone maker’s stock valued at $4,458,000 after buying an additional 413 shares during the last quarter. Semus Wealth Partners LLC raised its holdings in shares of Apple by 0.7% in the second quarter. Semus Wealth Partners LLC now owns 136,338 shares of the iPhone maker’s stock valued at $28,716,000 after buying an additional 974 shares during the last quarter. Golden Road Advisors LLC boosted its stake in shares of Apple by 4.8% during the second quarter. Golden Road Advisors LLC now owns 8,334 shares of the iPhone maker’s stock worth $1,906,000 after buying an additional 385 shares during the period. Finally, Cook Wealth LLC grew its holdings in shares of Apple by 136.4% during the second quarter. Cook Wealth LLC now owns 18,496 shares of the iPhone maker’s stock worth $4,023,000 after buying an additional 10,672 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Apple stock opened at $227.65 on Tuesday. The firm has a fifty day simple moving average of $241.26 and a two-hundred day simple moving average of $231.13. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a market capitalization of $3.42 trillion, a PE ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their price objective on Apple from $280.00 to $294.00 and gave the company a “buy” rating in a report on Friday, January 31st. Monness Crespi & Hardt raised their price target on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and decreased their price target for the company from $211.84 to $200.75 in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein increased their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.