Olstein Capital Management L.P. Has $2.79 Million Position in Apple Inc. (NASDAQ:AAPL)

Olstein Capital Management L.P. cut its position in Apple Inc. (NASDAQ:AAPL) by 14.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the iPhone maker’s stock after selling 2,500 shares during the quarter. Olstein Capital Management L.P.’s holdings in Apple were worth $2,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wyrmwood Management LLC increased its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its position in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp increased its position in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares in the last quarter. Cordant Inc. increased its position in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in Apple during the 4th quarter worth approximately $132,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $169.30 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $2.61 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a 50-day simple moving average of $172.38 and a 200 day simple moving average of $181.63.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.88 earnings per share. On average, research analysts predict that Apple Inc. will post 6.54 EPS for the current year.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock worth $63,653,887 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Piper Sandler Companies cut shares of Apple to a “neutral” rating and lowered their price objective for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. DZ Bank restated a “hold” rating and issued a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target for the company in a research report on Monday. Monness Crespi & Hardt upped their price target on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Piper Sandler decreased their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.62.

Apple Company Profile

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.