Commerzbank Aktiengesellschaft FI cut its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,819 shares of the iPhone maker’s stock after selling 10,017 shares during the quarter. Apple comprises 5.1% of Commerzbank Aktiengesellschaft FI’s portfolio, making the stock its 7th biggest position. Commerzbank Aktiengesellschaft FI’s holdings in Apple were worth $25,811,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new stake in Apple during the fourth quarter worth about $25,228,507,000. State Street Corp grew its stake 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. Capital Research Global Investors grew its stake in shares of Apple by 38.1% in the fourth 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 in the last quarter. SG Americas Securities LLC grew its stake in shares of Apple by 114.9% in the first quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock valued at $167,539,000 after buying an additional 7,386,473 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after buying an additional 6,154,422 shares in the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple 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 transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Citigroup increased their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Loop Capital lowered their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Bank of America reduced their price target on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Barclays reduced their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Finally, Rosenblatt Securities reduced their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.27.
Apple Stock Up 0.6 %
AAPL opened at $173.19 on Tuesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. 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 stock has a market cap of $2.78 trillion, a P/E ratio of 28.58, a P/E/G ratio of 2.23 and a beta of 1.23. The stock’s 50 day moving average price is $148.80 and its 200 day moving average price is $157.29.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period last year, the firm earned $1.30 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
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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