Apple Inc. (NASDAQ:AAPL) is Westpac Banking Corp’s 2nd Largest Position

Westpac Banking Corp cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,081,916 shares of the iPhone maker’s stock after selling 39,155 shares during the quarter. Apple makes up about 2.9% of Westpac Banking Corp’s portfolio, making the stock its 2nd largest position. Westpac Banking Corp’s holdings in Apple were worth $285,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. H&H International Investment LLC grew its position in Apple by 25.6% during the first quarter. H&H International Investment LLC now owns 35,288,200 shares of the iPhone maker’s stock worth $4,310,454,000 after buying an additional 7,186,900 shares in the last quarter. Altshuler Shaham Ltd grew its position in Apple by 358,827.0% during the first quarter. Altshuler Shaham Ltd now owns 6,044,331 shares of the iPhone maker’s stock worth $738,315,000 after buying an additional 6,042,647 shares in the last quarter. Oak Ridge Investments LLC grew its position in Apple by 1,041.0% during the first quarter. Oak Ridge Investments LLC now owns 6,118,670 shares of the iPhone maker’s stock worth $747,396,000 after buying an additional 5,582,423 shares in the last quarter. Flossbach Von Storch AG grew its position in Apple by 265.5% during the second quarter. Flossbach Von Storch AG now owns 6,935,205 shares of the iPhone maker’s stock worth $949,846,000 after buying an additional 5,037,609 shares in the last quarter. Finally, Factorial Partners LLC grew its position in Apple by 12,115.0% during the first quarter. Factorial Partners LLC now owns 3,610,754 shares of the iPhone maker’s stock worth $29,560,000 after buying an additional 3,581,194 shares in the last quarter. Institutional investors own 56.38% of the company’s stock.

AAPL opened at $146.92 on Friday. The business has a 50 day simple moving average of $148.37 and a two-hundred day simple moving average of $136.29. The firm has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.06 and a quick ratio of 1.01. Apple Inc. has a one year low of $107.32 and a one year high of $157.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The firm had revenue of $81.40 billion for the quarter, compared to the consensus estimate of $73.48 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 5.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s dividend payout ratio (DPR) is 26.83%.

Several research firms recently commented on AAPL. Sanford C. Bernstein restated a “hold” rating and set a $132.00 target price on shares of Apple in a research report on Tuesday, August 10th. DZ Bank reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, August 10th. Canaccord Genuity lifted their price target on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Jefferies Financial Group assumed coverage on Apple in a research note on Monday, September 13th. They set a “buy” rating and a $175.00 price target for the company. Finally, Credit Suisse Group set a $150.00 price target on Apple in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Buy” and a consensus target price of $163.82.

In other Apple news, CEO Timothy D. Cook sold 2,386,440 shares of the company’s stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total transaction of $354,577,255.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $145.89, for a total value of $2,480,130.00. Following the transaction, the senior vice president now owns 324,164 shares in the company, valued at approximately $47,292,285.96. The disclosure for this sale can be found here. Insiders have sold a total of 2,418,317 shares of company stock worth $359,229,278 in the last quarter. Company insiders own 0.06% of the company’s stock.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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