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New York State Common Retirement Fund Has $5.20 Billion Stock Position in Apple Inc. (NASDAQ:AAPL)

New York State Common Retirement Fund trimmed its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,756,429 shares of the iPhone maker’s stock after selling 40,141 shares during the quarter. Apple makes up approximately 5.6% of New York State Common Retirement Fund’s holdings, making the stock its biggest position. New York State Common Retirement Fund owned 0.18% of Apple worth $5,195,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Levy Wealth Management Group LLC boosted its position in shares of Apple by 4.6% during the 1st quarter. Levy Wealth Management Group LLC now owns 49,230 shares of the iPhone maker’s stock valued at $8,596,000 after acquiring an additional 2,186 shares during the last quarter. Mokosak Advisory Group LLC boosted its position in shares of Apple by 1.2% during the 1st quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock valued at $996,000 after acquiring an additional 66 shares during the last quarter. Lincoln Capital LLC boosted its position in shares of Apple by 29.2% during the 1st quarter. Lincoln Capital LLC now owns 52,010 shares of the iPhone maker’s stock valued at $9,081,000 after acquiring an additional 11,767 shares during the last quarter. Pacific Sun Financial Corp boosted its position in shares of Apple by 0.7% during the 1st quarter. Pacific Sun Financial Corp now owns 40,150 shares of the iPhone maker’s stock valued at $7,011,000 after acquiring an additional 287 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in shares of Apple by 3.5% during the 1st quarter. Bridgewater Advisors Inc. now owns 144,753 shares of the iPhone maker’s stock valued at $25,275,000 after acquiring an additional 4,913 shares during the last quarter. 57.62% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $170.03 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock’s 50-day moving average is $153.98 and its 200 day moving average is $157.35. The company has a market cap of $2.73 trillion, a P/E ratio of 28.06, a PEG ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple announced that its board has approved a share buyback program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAPL. Credit Suisse Group upgraded Apple from a “neutral” rating to an “outperform” rating and set a $201.00 target price for the company in a research report on Tuesday, August 16th. The Goldman Sachs Group set a $139.00 price target on Apple in a report on Friday, July 29th. Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Barclays decreased their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. set a $200.00 price target on Apple in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $181.18.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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