Nicollet Investment Management Inc. Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)
Nicollet Investment Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,773 shares of the iPhone maker’s stock after selling 1,030 shares during the period. Apple makes up about 10.3% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its largest holding. Nicollet Investment Management Inc.’s holdings in Apple were worth $13,928,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Korea Investment CORP grew its position in Apple by 6.3% during the 4th quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock worth $1,102,083,000 after purchasing an additional 221,800 shares in the last quarter. Atlas Private Wealth Management purchased a new position in Apple during the 4th quarter worth approximately $4,730,000. Blair William & Co. IL grew its position in Apple by 2.0% during the 4th quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock worth $754,128,000 after purchasing an additional 49,316 shares in the last quarter. Altshuler Shaham Ltd grew its position in Apple by 2,180.0% during the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares in the last quarter. Finally, Capital International Ltd. CA grew its position in Apple by 37.6% during the 4th quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock worth $4,713,000 after purchasing an additional 4,382 shares in the last quarter. 59.49% of the stock is currently owned by institutional investors.
Several research firms have recently commented on AAPL. JPMorgan Chase & Co. set a $350.00 price target on shares of Apple and gave the company a “buy” rating in a report on Tuesday, May 12th. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Thursday, January 30th. Goldman Sachs Group restated a “sell” rating and set a $243.00 price target on shares of Apple in a report on Friday, May 1st. Monness Crespi & Hardt boosted their price target on shares of Apple from $300.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Citigroup lowered their price target on shares of Apple from $350.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-nine have given a buy rating to the stock. Apple has a consensus rating of “Buy” and an average price target of $301.00.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion during the quarter, compared to analyst estimates of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, sell-side 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. Stockholders of record on Monday, May 11th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Apple’s previous quarterly dividend of $0.77. Apple’s dividend payout ratio is currently 27.59%.
In other news, insider Chris Kondo sold 4,491 shares of the company’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 transaction, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 41,062 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $264.44, for a total transaction of $10,858,435.28. Following the transaction, the chief financial officer now directly owns 65,427 shares of the company’s stock, valued at approximately $17,301,515.88. The disclosure for this sale can be found here. Insiders have sold 95,752 shares of company stock valued at $24,750,125 in the last ninety days. 0.05% of the stock is owned by company insiders.
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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