Slow Capital Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,434 shares of the iPhone maker’s stock after selling 11,523 shares during the quarter. Apple makes up about 4.4% of Slow Capital Inc.’s portfolio, making the stock its 4th biggest holding. Slow Capital Inc.’s holdings in Apple were worth $23,474,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of AAPL. State Street Corp grew its holdings in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC boosted its stake in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after buying an additional 4,456,954 shares during the period. Norges Bank acquired a new stake in shares of Apple during the fourth quarter valued at about $25,228,507,000. Charles Schwab Investment Management Inc. raised 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 valued at $14,131,710,000 after acquiring an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Apple by 5.1% in the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after acquiring an additional 3,096,696 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Up 2.1 %
Apple stock opened at $172.10 on Friday. The stock has a 50-day simple moving average of $148.26 and a 200-day simple moving average of $157.30. The company has a market capitalization of $2.77 trillion, a P/E ratio of 28.40, a PEG ratio of 2.18 and a beta of 1.23. 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 Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during 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 revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. Equities research analysts expect that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its board has initiated a share buyback plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.53%. Apple’s dividend payout ratio is presently 15.18%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on AAPL shares. Citigroup lifted their target price on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Evercore ISI boosted their price objective on Apple from $180.00 to $185.00 in a report on Friday, July 29th. Morgan Stanley lowered their target price on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Itaú Unibanco began coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, Fundamental Research set a $177.07 price objective on shares of Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus 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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