Apple Inc. $AAPL is Campbell Newman Asset Management Inc.'s 3rd Largest Position

Key Points

• Campbell Newman Asset Management Inc. has reduced its stake in Apple Inc. by 2.8%, making Apple its 3rd largest position at 5.5% of the portfolio, valued at approximately $69.33 million.
• Several institutional investors have recently modified their stakes in Apple, with notable increases from Vanguard Group Inc. and Kingstone Capital Partners, which raised its position by 573,627.2%.
• Apple's most recent quarterly earnings report showed a 9.6% revenue increase year-over-year, with earnings per share surpassing analyst estimates, reflecting strong market performance.

Campbell Newman Asset Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 337,915 shares of the iPhone maker's stock after selling 9,660 shares during the quarter. Apple accounts for 5.5% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 3rd largest position. Campbell Newman Asset Management Inc.'s holdings in Apple were worth $69,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its position in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Northern Trust Corp raised its position in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Apple by 14.3% in 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 acquiring an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Apple by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker's stock worth $21,790,933,000 after acquiring an additional 984,157 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Wedbush set a $310.00 price target on shares of Apple and gave the stock an "outperform" rating in a research report on Monday, September 22nd. DA Davidson reiterated a "neutral" rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 11th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a research report on Thursday, September 11th. Finally, UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $248.29.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $252.29 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market cap of $3.74 trillion, a P/E ratio of 38.28, a P/E/G ratio of 2.41 and a beta of 1.09. The firm's fifty day moving average is $241.13 and its two-hundred day moving average is $216.86. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

About Apple

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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