Trading Report: The Jennison Associates LLC cuts position of Apple Inc. (AAPL)

The Jennison Associates LLC cuts position of Apple Inc. (AAPL)

Jennison Associates LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,167,852 shares of the iPhone maker’s stock after selling 1,198,501 shares during the period. Apple comprises 2.7% of Jennison Associates LLC’s holdings, making the stock its 3rd largest position. Jennison Associates LLC owned approximately 0.49% of Apple worth $2,501,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hussman Strategic Advisors Inc. acquired a new position in shares of Apple during the second quarter worth $143,000. River & Mercantile Asset Management LLP raised its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares in the last quarter. Smith Affiliated Capital Corp. raised its stake in Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock worth $185,000 after buying an additional 1,185 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock worth $200,000 after buying an additional 107 shares in the last quarter. Finally, Stelac Advisory Services LLC raised its stake in Apple by 70.5% in the second quarter. Stelac Advisory Services LLC now owns 2,100 shares of the iPhone maker’s stock worth $201,000 after buying an additional 868 shares in the last quarter. 56.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Inc. (NASDAQ:AAPL) traded down 0.66% on Friday, hitting $113.72. 37,861,662 shares of the company’s stock traded hands. Apple Inc. has a one year low of $89.47 and a one year high of $123.82. The stock has a 50-day moving average of $114.12 and a 200-day moving average of $104.15. The stock has a market cap of $606.39 billion, a PE ratio of 13.68 and a beta of 1.22.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The business earned $46.85 billion during the quarter, compared to the consensus estimate of $46.88 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post $9.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Monday, November 7th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, November 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.00%. Apple’s payout ratio is currently 27.57%.

A number of research firms have recently issued reports on AAPL. Citigroup Inc. reiterated a “buy” rating and set a $130.00 price objective on shares of Apple in a research note on Wednesday. Barclays PLC reiterated an “overweight” rating and set a $114.00 price objective (down previously from $117.00) on shares of Apple in a research note on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $140.00 price objective on shares of Apple in a research note on Wednesday. Wells Fargo & Co. restated a “market perform” rating and issued a $112.50 price target on shares of Apple in a research note on Wednesday. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $107.00 price target on shares of Apple in a research note on Wednesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have assigned a buy rating and two have issued a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and an average target price of $127.95.

In related news, SVP D Bruce Sewell sold 23,305 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the completion of the transaction, the senior vice president now owns 239,329 shares of the company’s stock, valued at $25,725,474.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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