Apple Inc. (NASDAQ:AAPL) is Oppenheimer Asset Management Inc.’s 6th Largest Position

Oppenheimer Asset Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 499,150 shares of the iPhone maker’s stock after selling 31,494 shares during the period. Apple makes up about 1.2% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 6th biggest holding. Oppenheimer Asset Management Inc.’s holdings in Apple were worth $87,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Apple in the 4th quarter worth $25,228,507,000. Aaron Wealth Advisors LLC raised its stake in Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after acquiring an additional 25,989,570 shares during the last quarter. State Street Corp raised its stake in 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. Swiss National Bank raised its stake in Apple by 13.1% in the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after acquiring an additional 8,230,300 shares during the last quarter. Finally, Capital Research Global Investors raised 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 worth $5,247,094,000 after acquiring an additional 8,154,171 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Itaú Unibanco started coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Itau BBA Securities started coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Barclays cut their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Tuesday. Finally, Fundamental Research set a $177.07 price target on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Apple Trading Up 0.9 %

AAPL opened at $155.96 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company’s 50 day simple moving average is $157.75 and its two-hundred day simple moving average is $156.51. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The firm has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

Insiders Place Their Bets

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

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.

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