Heritage Investors Management Corp Sells 8,501 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Investors Management Corp decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,454 shares of the iPhone maker’s stock after selling 8,501 shares during the quarter. Apple makes up about 4.4% of Heritage Investors Management Corp’s holdings, making the stock its biggest position. Heritage Investors Management Corp’s holdings in Apple were worth $62,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd grew its stake in Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 109 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the 4th quarter valued at $36,000. Stralem & Co. Inc. acquired a new position in Apple in the 1st quarter valued at $39,000. Sycomore Asset Management acquired a new position in Apple in the 1st quarter valued at $50,000. Finally, CXI Advisors acquired a new position in Apple in the 4th quarter valued at $68,000. Institutional investors own 61.95% of the company’s stock.

Shares of AAPL stock opened at $318.25 on Friday. Apple Inc. has a 12-month low of $170.27 and a 12-month high of $327.85. The company has a market capitalization of $1,396.56 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.41 and a beta of 1.17. The firm has a 50-day moving average price of $294.04 and a 200 day moving average price of $287.10. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion during the quarter, compared to the consensus estimate of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. As a group, research analysts expect that Apple Inc. will post 12.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, May 8th. This is a boost from Apple’s previous quarterly dividend of $0.77. Apple’s dividend payout ratio (DPR) is presently 27.59%.

A number of research analysts recently issued reports on AAPL shares. Sanford C. Bernstein set a $285.00 target price on shares of Apple and gave the company a “neutral” rating in a research note on Friday, May 1st. DZ Bank restated a “buy” rating on shares of Apple in a research report on Monday, May 4th. Robert W. Baird decreased their price target on shares of Apple from $360.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Cascend Securities decreased their price target on shares of Apple from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, UBS Group set a $325.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-nine have assigned a buy rating to the company. Apple has an average rating of “Buy” and a consensus target price of $303.38.

In other Apple news, CFO Luca Maestri sold 41,062 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $264.44, for a total value of $10,858,435.28. Following the completion of the sale, the chief financial officer now owns 65,427 shares in the company, valued at approximately $17,301,515.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,491 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the sale, the insider now owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The disclosure for this sale can be found here. Insiders sold a total of 95,752 shares of company stock valued at $24,750,125 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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