Apple Inc. $AAPL is OVERSEA CHINESE BANKING Corp Ltd's 6th Largest Position

Key Points

• OVERSEA CHINESE BANKING Corp Ltd significantly increased its holdings in Apple Inc. by 630.1%, owning over 3.4 million shares worth approximately $761.5 million.
• Apple reported a strong quarterly performance with earnings per share of $1.57, surpassing the consensus estimate, and a revenue of $94.04 billion, marking a 9.6% increase from the previous year.
• Analysts have given Apple a favorable outlook, with most rating it as a "Moderate Buy" and setting an average price target of $237.37.

OVERSEA CHINESE BANKING Corp Ltd raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 630.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,428,207 shares of the iPhone maker's stock after purchasing an additional 2,958,654 shares during the period. Apple accounts for 3.6% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 6th largest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in Apple were worth $761,508,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Baer Investment Advisory LLC increased its position in shares of Apple by 11.4% in the 1st quarter. Baer Investment Advisory LLC now owns 13,254 shares of the iPhone maker's stock valued at $2,944,000 after purchasing an additional 1,357 shares during the last quarter. Apollon Financial LLC increased its position in shares of Apple by 4.6% in the 1st quarter. Apollon Financial LLC now owns 68,021 shares of the iPhone maker's stock valued at $15,109,000 after purchasing an additional 3,009 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Apple by 7.4% in the 1st quarter. Apollon Wealth Management LLC now owns 864,546 shares of the iPhone maker's stock valued at $192,042,000 after purchasing an additional 59,849 shares during the last quarter. Prepared Retirement Institute LLC increased its position in shares of Apple by 5.7% in the 1st quarter. Prepared Retirement Institute LLC now owns 5,993 shares of the iPhone maker's stock valued at $1,331,000 after purchasing an additional 325 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its position in shares of Apple by 0.7% in the 1st quarter. Catalyst Financial Partners LLC now owns 99,707 shares of the iPhone maker's stock valued at $22,148,000 after purchasing an additional 715 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Apple stock traded down $0.42 during mid-day trading on Monday, reaching $232.14. 39,382,353 shares of the company were exchanged, compared to its average volume of 55,684,536. The firm's 50-day simple moving average is $215.79 and its two-hundred day simple moving average is $212.71. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.45 trillion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping 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 business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. The company's quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Monness Crespi & Hardt increased their target price on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wedbush reaffirmed an "outperform" rating and set a $270.00 price objective on shares of Apple in a report on Thursday, August 7th. Bank of America reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Monday, August 25th. Loop Capital decreased their target price on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $237.37.

Apple Company Profile

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.