Whittier Trust Co. of Nevada Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,006,735 shares of the iPhone maker’s stock after acquiring an additional 51,085 shares during the quarter. Apple comprises approximately 6.4% of Whittier Trust Co. of Nevada Inc.’s portfolio, making the stock its 2nd biggest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Apple were worth $175,786,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. State Street Corp increased its position in shares of Apple by 1.8% in the fourth 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new position in shares of Apple in the fourth quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. increased its position in shares of Apple by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after buying an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Apple by 5.1% in the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after buying an additional 3,096,696 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was 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 directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.
Apple Stock Up 2.6 %
AAPL opened at $169.24 on Thursday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The stock’s fifty day moving average is $146.97 and its 200-day moving average is $157.08. The company has a market capitalization of $2.72 trillion, a PE ratio of 27.93, a P/E/G ratio of 2.14 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s quarterly 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 EPS. On average, equities analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Analyst Upgrades and Downgrades
AAPL has been the topic of a number of analyst reports. Wells Fargo & Company decreased their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on Apple in a research note on Monday, August 1st. Rosenblatt Securities decreased their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. UBS Group set a $185.00 price objective on Apple in a research note on Thursday, July 21st. Finally, KeyCorp increased their price objective on Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.27.
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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