Apple Inc. (NASDAQ:AAPL) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,064 shares of the iPhone maker’s stock after selling 20,648 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Apple were worth $51,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Apple during the fourth quarter valued at about $25,228,507,000. State Street Corp boosted its position 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 valued at $112,422,274,000 after purchasing 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 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after purchasing an additional 8,154,171 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Apple by 114.9% in the 1st quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock worth $167,539,000 after purchasing an additional 7,386,473 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Apple by 41.8% during 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 purchasing an additional 6,154,422 shares during the last quarter. 57.62% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now 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 is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Apple Trading Down 0.1 %

NASDAQ:AAPL opened at $173.03 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average is $149.28 and its 200-day moving average is $157.40. The firm has a market cap of $2.78 trillion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 2.23 and a beta of 1.23. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.

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 firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 6.1 EPS for the current year.

Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Analyst Ratings Changes

Several research firms have issued reports on AAPL. Itau BBA Securities initiated coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Evercore ISI lifted their price target on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Piper Sandler reduced their price objective on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Finally, Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $179.27.

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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