Apple Inc. (AAPL) Shares Sold by Financial Advisors Network Inc.

Financial Advisors Network Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,013 shares of the iPhone maker’s stock after selling 319 shares during the quarter. Apple comprises about 0.9% of Financial Advisors Network Inc.’s investment portfolio, making the stock its 22nd biggest holding. Financial Advisors Network Inc.’s holdings in Apple were worth $1,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Apple in the fourth quarter worth approximately $5,625,709,000. Schwab Charles Investment Management Inc. grew its position in Apple by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock worth $2,533,825,000 after buying an additional 471,057 shares during the last quarter. Fisher Asset Management LLC grew its position in Apple by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after buying an additional 140,368 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after buying an additional 1,749,797 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its position in Apple by 15.5% in the first quarter. State of Wisconsin Investment Board now owns 5,578,551 shares of the iPhone maker’s stock worth $801,415,000 after buying an additional 749,158 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Several equities analysts have weighed in on the stock. UBS AG reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a research report on Saturday, May 20th. Credit Suisse Group reiterated an “outperform” rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, June 6th. Deutsche Bank AG reiterated a “hold” rating and set a $130.00 price objective on shares of Apple in a research report on Tuesday, June 6th. BMO Capital Markets reiterated an “outperform” rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, July 25th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $208.00 price objective on shares of Apple in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Apple currently has a consensus rating of “Buy” and an average price target of $169.52.

In other Apple news, insider Johny Srouji sold 5,892 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the transaction, the insider now directly owns 70,358 shares in the company, valued at $11,327,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the transaction, the senior vice president now owns 112,430 shares in the company, valued at $17,778,555.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,930 shares of company stock worth $69,008,577. 0.08% of the stock is owned by company insiders.

Shares of Apple Inc. (NASDAQ:AAPL) traded down 1.05% during midday trading on Wednesday, hitting $159.17. 30,334,458 shares of the company traded hands. The stock has a 50 day moving average of $158.11 and a 200-day moving average of $148.94. Apple Inc. has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $822.15 billion, a PE ratio of 18.07 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. Equities analysts forecast that Apple Inc. will post $9.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is 28.64%.

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Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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