Financial Council Asset Management Inc boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 38,150 shares of the iPhone maker’s stock after acquiring an additional 85 shares during the period. Apple accounts for 8.1% of Financial Council Asset Management Inc’s portfolio, making the stock its 4th largest position. Financial Council Asset Management Inc’s holdings in Apple were worth $6,661,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AAPL. Norges Bank acquired a new stake in Apple during the 4th quarter worth $25,228,507,000. State Street Corp grew its holdings in 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 acquiring an additional 10,951,705 shares during the period. Capital Research Global Investors grew its holdings in Apple by 38.1% during 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 period. SG Americas Securities LLC grew 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 valued at $167,539,000 after buying an additional 7,386,473 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Apple by 41.8% in the 4th 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 during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the 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 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on AAPL shares. Fundamental Research set a $177.07 price target on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Rosenblatt Securities decreased their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. UBS Group set a $185.00 price target on shares of Apple in a report on Thursday, July 21st. Credit Suisse Group set a $166.00 price target on shares of Apple in a report on Friday, July 29th. Finally, Itau BBA Securities started coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Two research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.27.
Apple Stock Up 2.1 %
Shares of AAPL opened at $172.10 on Monday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The firm has a market cap of $2.77 trillion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23. The firm’s 50-day simple moving average is $148.26 and its 200 day simple moving average is $157.27. 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 (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating 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 quarter in the prior year, the business earned $1.30 EPS. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a share buyback program 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 programs are often an indication that the company’s leadership believes its stock is undervalued.
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 given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.53%. Apple’s payout ratio 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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