Addenda Capital Inc. Sells 4,270 Shares of Apple Inc. (NASDAQ:AAPL)

Addenda Capital Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,287 shares of the iPhone maker’s stock after selling 4,270 shares during the quarter. Apple makes up 1.3% of Addenda Capital Inc.’s portfolio, making the stock its 24th largest position. Addenda Capital Inc.’s holdings in Apple were worth $26,817,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Apple in the 4th quarter valued at approximately $560,388,000. Hudson Bay Capital Management LP acquired a new stake in Apple in the third quarter valued at $487,435,000. Barclays PLC grew its position in shares of Apple by 6.0% in the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. Granite Bay Wealth Management LLC acquired a new position in shares of Apple during the 3rd quarter worth about $461,021,000. Finally, Morgan Stanley raised its holdings in shares of Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after purchasing an additional 2,018,010 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the 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 sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock worth $63,653,887 in the last quarter. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $166.90 on Wednesday. Apple Inc. has a one year low of $162.80 and a one year high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.99 and a beta of 1.27. The firm has a 50 day simple moving average of $173.88 and a 200 day simple moving average of $182.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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 company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. Research analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AAPL shares. Bank of America raised Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. Monness Crespi & Hardt boosted their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Maxim Group initiated coverage on Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target for the company. Piper Sandler decreased their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Finally, Loop Capital cut their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One equities research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

About Apple

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.