Apple Inc. (NASDAQ:AAPL) Stake Lifted by Valley National Advisers Inc.

Valley National Advisers Inc. raised its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.3% during the first quarter, HoldingsChannel reports. The firm owned 173,751 shares of the iPhone maker’s stock after purchasing an additional 449 shares during the period. Apple comprises 5.8% of Valley National Advisers Inc.’s holdings, making the stock its 2nd biggest position. Valley National Advisers Inc.’s holdings in Apple were worth $30,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. State Street Corp increased its stake in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after acquiring an additional 4,456,954 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple in the 4th quarter worth $25,228,507,000. Charles Schwab Investment Management Inc. increased its stake in shares of Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after acquiring an additional 1,273,148 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Apple by 1.6% in the 4th quarter. Parametric Portfolio Associates LLC now owns 55,610,954 shares of the iPhone maker’s stock worth $9,874,837,000 after acquiring an additional 871,249 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAPL. UBS Group set a $185.00 price objective on Apple in a research report on Thursday, July 21st. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research report on Monday. Evercore ISI raised their price objective on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Bank of America cut their price objective on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Finally, Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $181.18.

Apple Price Performance

AAPL stock opened at $158.91 on Wednesday. The business has a 50 day moving average price of $155.68 and a 200 day moving average price of $156.99. The stock has a market cap of $2.55 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.12 and a beta of 1.23. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. Equities research analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now 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. 0.06% of the stock is owned by company insiders.

About Apple

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).



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