AEGON ASSET MANAGEMENT UK Plc Has $465.49 Million Stock Position in Apple Inc. $AAPL

Key Points

• AEGON Asset Management UK increased its Apple stake by 1.4% in Q4, holding 1,712,364 shares worth about $465.5 million. Apple is now the fund’s third-largest position and makes up roughly 5.5% of its portfolio.
• Apple executives sold shares during the period, including CEO Tim Cook and SVP Deirdre O’Brien, with insiders selling 97,759 shares worth about $25 million over the last 90 days. Even so, insiders still own only 0.06% of the company.
• Apple beat earnings expectations in its latest quarter, reporting EPS of $2.01 on revenue of $111.18 billion, while also raising its quarterly dividend to $0.27 per share. Analysts remain mostly bullish, with a consensus rating of Moderate Buy and a price target around $308.74.

AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,712,364 shares of the iPhone maker's stock after buying an additional 23,080 shares during the period. Apple accounts for approximately 5.5% of AEGON ASSET MANAGEMENT UK Plc's investment portfolio, making the stock its 3rd biggest position. AEGON ASSET MANAGEMENT UK Plc's holdings in Apple were worth $465,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Apple in the 2nd quarter worth about $38,942,255,000. Nuveen LLC acquired a new stake in Apple in the 1st quarter worth about $17,472,482,000. Laurel Wealth Advisors LLC raised its stake in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Vanguard Group Inc. raised its stake in Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O'brien sold 30,002 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares of the company's stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 97,759 shares of company stock worth $24,964,305. Company insiders own 0.06% of the company's stock.

Apple Price Performance

Apple stock opened at $308.82 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $311.40. The firm's fifty day moving average is $269.64 and its 200 day moving average is $268.62. The company has a market capitalization of $4.54 trillion, a PE ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.65 EPS. As a group, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio (DPR) is presently 13.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Monness Crespi & Hardt raised their target price on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Apple from $315.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Jefferies Financial Group set a $330.00 target price on shares of Apple in a research report on Wednesday, March 4th. TD Cowen restated a "buy" rating and issued a $335.00 price target (up from $325.00) on shares of Apple in a research report on Friday, May 1st. Finally, Wedbush restated an "outperform" rating and issued a $400.00 price target (up from $350.00) on shares of Apple in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $308.74.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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