CWS Financial Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,489 shares of the iPhone maker’s stock after selling 87 shares during the quarter. Apple comprises approximately 4.1% of CWS Financial Advisors LLC’s portfolio, making the stock its 4th largest holding. CWS Financial Advisors LLC’s holdings in Apple were worth $10,911,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Norges Bank acquired a new position in shares of Apple in the fourth quarter valued at approximately $25,228,507,000. State Street Corp grew its position in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Capital Research Global Investors increased its stake in Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after buying an additional 8,154,171 shares during the period. SG Americas Securities LLC raised its position in Apple by 114.9% during the 1st quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock worth $167,539,000 after buying an additional 7,386,473 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Apple by 41.8% in the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after acquiring an additional 6,154,422 shares during the period. 57.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on AAPL shares. set a $175.00 price target on shares of Apple in a report on Friday, July 29th. Piper Sandler decreased their price target on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Bank of America dropped their price objective on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Finally, KeyCorp increased their price target on shares of Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $179.27.
Apple Trading Down 0.1 %
Shares of AAPL opened at $173.03 on Wednesday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a market capitalization of $2.78 trillion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23. The stock has a fifty day moving average of $149.28 and a two-hundred day moving average of $157.40. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS 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 business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 6.1 EPS for the current year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.53%. Apple’s dividend payout ratio is presently 15.18%.
Apple announced that its board has initiated a share buyback plan on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Insider Activity at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.
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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