Apple Inc. $AAPL Stock Holdings Trimmed by Lbp Am Sa

Key Points

• LBP AM SA has reduced its holdings in Apple Inc. (AAPL) by 4.4%, now owning 928,331 shares valued at approximately $206.2 million, making it Apple's 5th largest position in the company's portfolio.
• Apple's recent earnings report beat analysts' expectations with a EPS of $1.57, higher than the predicted $1.43, and a year-over-year revenue growth of 9.6% to $94.04 billion.
• The company's Board of Directors has authorized a $100 billion share repurchase program, reflecting management's belief that the shares may be undervalued, alongside announcing a quarterly dividend of $0.26 per share.

LBP AM SA lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 928,331 shares of the iPhone maker's stock after selling 42,755 shares during the quarter. Apple makes up about 3.2% of LBP AM SA's investment portfolio, making the stock its 5th largest holding. LBP AM SA's holdings in Apple were worth $206,210,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Life Planning Partners Inc bought a new position in Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. purchased a new stake in Apple during the first quarter valued at approximately $58,000. Conquis Financial LLC bought a new stake in Apple in the fourth quarter worth $63,000. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth about $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Apple during the 4th quarter worth approximately $82,000. Institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AAPL. Morgan Stanley increased their price target on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wedbush restated an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Thursday, August 7th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $266.00 price target on shares of Apple in a report on Tuesday. Scotiabank lowered shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, Bank of America restated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $237.37.

Apple Trading Down 0.2%

NASDAQ:AAPL traded down $0.42 during trading hours on Friday, reaching $232.14. 39,382,353 shares of the stock were exchanged, compared to its average volume of 58,935,340. The company has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.43 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average of $215.79 and a two-hundred day moving average of $213.08. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Announces Dividend

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

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

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.