Sumitomo Life Insurance Co. Has $58.28 Million Position in Apple Inc. $AAPL

Sumitomo Life Insurance Co. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,078 shares of the iPhone maker’s stock after selling 4,637 shares during the quarter. Apple makes up approximately 4.0% of Sumitomo Life Insurance Co.’s holdings, making the stock its 5th biggest holding. Sumitomo Life Insurance Co.’s holdings in Apple were worth $58,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. lifted its position in Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after purchasing an additional 5,005,297 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its position in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Northern Trust Corp lifted its holdings in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Apple by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after buying an additional 984,157 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 1.1%

Apple stock opened at $286.19 on Wednesday. The firm’s 50 day moving average price is $264.45 and its two-hundred day moving average price is $232.89. The firm has a market cap of $4.23 trillion, a PE ratio of 38.31, a P/E/G ratio of 2.64 and a beta of 1.10. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $287.40. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the previous year, the company posted $1.64 EPS. Apple’s revenue was up 8.7% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.92%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. TD Cowen boosted their price target on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 31st. Sanford C. Bernstein set a $325.00 price objective on shares of Apple in a research note on Monday, November 3rd. Finally, Tigress Financial lifted their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $278.53.

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 228,052 shares of company stock worth $58,604,588 over the last quarter. Insiders own 0.06% of the company’s stock.

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.