Redwood Investments LLC Sells 2,681 Shares of Apple Inc. (NASDAQ:AAPL)

Redwood Investments LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,374 shares of the iPhone maker’s stock after selling 2,681 shares during the period. Apple makes up about 2.1% of Redwood Investments LLC’s holdings, making the stock its 6th largest holding. Redwood Investments LLC’s holdings in Apple were worth $7,966,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Atlantic Private Wealth LLC acquired a new stake in shares of Apple in the first quarter valued at $30,000. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Cheyne Capital Management UK LLP increased its holdings in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after buying an additional 550 shares during the last quarter. Finally, HBC Financial Services PLLC increased its holdings in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $167.04 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.58 trillion, a P/E ratio of 26.02, a PEG ratio of 2.04 and a beta of 1.27. Apple Inc. has a 52 week low of $162.80 and a 52 week high of $199.62. The company has a 50-day moving average price of $175.15 and a 200 day moving average price of $182.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 earnings per share. Research analysts predict that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is 14.95%.

Insider Activity

In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock worth $63,653,887. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Apple in a report on Tuesday. Loop Capital dropped their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Barclays dropped their target price on Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a report on Friday, February 2nd. Finally, DZ Bank reissued a “hold” rating and issued a $180.00 target price on shares of Apple in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $203.34.

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.