Putnam Investments LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,989,891 shares of the iPhone maker’s stock after selling 600,932 shares during the period. Apple comprises approximately 3.9% of Putnam Investments LLC’s portfolio, making the stock its 2nd biggest position. Putnam Investments LLC’s holdings in Apple were worth $2,319,615,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. EMC Capital Management purchased a new stake in shares of Apple during the fourth quarter worth $80,000. Pinz Capital Management LP purchased a new stake in shares of Apple during the first quarter worth $72,000. Geo Capital Gestora de Recursos Ltd raised its holdings in shares of Apple by 135.6% during the first quarter. Geo Capital Gestora de Recursos Ltd now owns 655 shares of the iPhone maker’s stock worth $80,000 after acquiring an additional 377 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Apple during the fourth quarter worth $106,000. Finally, Park Capital Group purchased a new stake in shares of Apple during the fourth quarter worth $127,000. 56.20% of the stock is owned by institutional investors and hedge funds.
AAPL stock opened at $145.40 on Thursday. Apple Inc. has a twelve month low of $89.14 and a twelve month high of $150.00. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 32.64, a PEG ratio of 2.22 and a beta of 1.21. The business’s 50-day moving average price is $133.11. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 1.57.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Shareholders of record on Monday, May 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.61%. This is an increase from Apple’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, May 7th. Apple’s payout ratio is presently 26.83%.
AAPL has been the subject of several recent research reports. Sanford C. Bernstein set a $132.00 price objective on Apple and gave the stock a “neutral” rating in a report on Tuesday, May 11th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 target price (up from $170.00) on shares of Apple in a report on Wednesday, July 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $165.00 target price on shares of Apple in a report on Monday. Morgan Stanley raised their target price on Apple from $162.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. Finally, Barclays cut their target price on Apple from $138.00 to $134.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have given a buy rating to the company. Apple has a consensus rating of “Buy” and an average target price of $149.63.
In other Apple news, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $132.80, for a total transaction of $2,257,600.00. Following the sale, the senior vice president now directly owns 333,044 shares of the company’s stock, valued at $44,228,243.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 121,072 shares of Apple stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $132.81, for a total value of $16,079,572.32. Following the sale, the chief financial officer now directly owns 143,961 shares in the company, valued at $19,119,460.41. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by 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.
Recommended Story: Does the Dogs of the Dow strategy work?
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.