Addenda Capital Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,082 shares of the iPhone maker's stock after selling 2,464 shares during the quarter. Apple accounts for approximately 1.6% of Addenda Capital Inc.'s investment portfolio, making the stock its 19th biggest holding. Addenda Capital Inc.'s holdings in Apple were worth $32,893,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Advanced Portfolio Management LLC raised its position in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the period. Hanseatic Management Services Inc. raised its position in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. increased its holdings in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC increased its holdings in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Activity at Apple
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last ninety days. Insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Raymond James Financial decreased their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on shares of Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday. Scotiabank downgraded shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a research note on Tuesday, June 10th. Finally, Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $234.39.
Get Our Latest Stock Analysis on AAPL
Apple Stock Up 0.0%
Shares of AAPL traded up $0.08 during mid-day trading on Friday, hitting $201.08. 73,093,456 shares of the company's stock were exchanged, compared to its average volume of 53,360,608. The firm has a fifty day moving average of $202.61 and a two-hundred day moving average of $220.03. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm earned $1.53 EPS. The business's revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.
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.
Read More
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
