Carnegie Capital Asset Management LLC reduced its holdings of Apple Inc. stock (NASDAQ: AAPL – Get an assessment) by 1.0% in the first quarter, HoldingsChannel reports. The company held 764,242 shares of the iPhone maker after selling 8,088 shares during the period. Apple accounts for about 4.9% of Carnegie Capital Asset Management LLC’s holdings, making it its largest holding. Carnegie Capital Asset Management LLC’s holdings in Apple were worth $133,444,000 when it last filed with the SEC.
A number of other institutional investors and hedge funds have also recently changed their positions in AAPL. Norges Bank acquired a new position in Apple in the fourth quarter worth approximately $25,228,507,000. State Street Corp increased its stake in Apple shares by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Miracle Mile Advisors LLC increased its stake in Apple by 1,841.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 8,755,560 shares of the iPhone maker worth $78,548,000 after buying an additional 8,304,604 shares last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Apple during the fourth quarter worth $1,461,735,000. Finally, Capital Research Global Investors increased its stake in Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker valued at $5,247,094,000 after buying an additional 8,154,171 shares last quarter. 57.98% of the shares are currently held by institutional investors.
A number of equity research analysts have recently commented on AAPL shares. JPMorgan Chase & Co. set a target price of $200.00 on Apple in a Monday, June 20 research report. UBS Group set a price target of $185.00 on Apple in a research report on Tuesday, June 21. Loop Capital cut its target price on Apple from $210.00 to $180.00 and placed a “buy” rating on the stock in a Wednesday, May 25 research report. Morgan Stanley cut its price target on Apple shares from $195.00 to $185.00 and set an “overweight” rating for the company in a Tuesday, June 14 report. Finally, Credit Suisse Group set a price target of $169.00 on Apple shares in a report on Friday, April 29. Nine research analysts gave the stock a hold rating, twenty-four issued a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.55.
Shares of Apple broth opened at $141.66 on Monday. The company has a market capitalization of $2.29 trillion, a PE ratio of 23.00, a price-to-earnings growth ratio of 1.86 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt ratio of 1.53. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company’s fifty-day simple moving average is $148.09 and its 200-day simple moving average is $162.18.
Apple (NASDAQ: AAPL – Get an assessment) last released its results on Thursday, April 28. The iPhone maker reported EPS of $1.52 for the quarter, beating consensus analyst estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company posted revenue of $97.28 billion for the quarter, versus $93.99 billion expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $1.40. Apple’s revenue for the quarter increased 8.6% compared to the same quarter last year. As a group, stock analysts expect Apple Inc. to post earnings per share of 6.11 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12. Investors of record on Monday, May 9 received a dividend of $0.23 per share. The ex-dividend date was Friday, May 6. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 0.65%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is currently 14.94%.
Apple said its board on Thursday (April 28) approved a stock repurchase plan that sees the company repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.
In related news, please Katherine L. Adams sold 25,000 shares of the company in a trade on Wednesday, May 4. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares of the company, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, COO Jeffrey E. Williams sold 105,901 shares of the company in a trade dated Monday, April 4. The shares were sold at an average price of $177.75, for a total value of $18,823,902.75. As a result of the transaction, the chief operating officer now owns 489,662 shares of the company, valued at $87,037,420.50. Disclosure of this sale can be found here. Insiders sold a total of 168,099 shares of the company worth $29,376,711 during the last quarter. 0.06% of the shares are held by insiders.
About Apple (Get an assessment)
Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
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