Adams Diversified Equity Fund Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 843,400 shares of the iPhone maker's stock after selling 9,200 shares during the quarter. Apple makes up approximately 7.5% of Adams Diversified Equity Fund Inc.'s portfolio, making the stock its largest position. Adams Diversified Equity Fund Inc.'s holdings in Apple were worth $187,344,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the period. Geode Capital Management LLC raised its position in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the last quarter. Norges Bank acquired a new position in Apple during the 4th quarter valued at about $46,868,648,000. Northern Trust Corp boosted its stake in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on AAPL shares. Rosenblatt Securities reaffirmed a "neutral" rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Evercore ISI boosted their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. TD Cowen lowered their target price on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $237.60.
Check Out Our Latest Analysis on Apple
Insider Activity
In other Apple news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.
Apple Stock Up 4.2%
NASDAQ AAPL traded up $9.32 during trading hours on Friday, hitting $229.35. The company's stock had a trading volume of 113,661,399 shares, compared to its average volume of 57,968,961. The company has a market capitalization of $3.40 trillion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.16. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company's 50-day simple moving average is $206.24 and its two-hundred day simple moving average is $213.17.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is presently 15.78%.
Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.
About Apple
(
Free Report)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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