Apple Inc. $AAPL Stake Boosted by Sava Infond d.o.o.

Key Points

• Sava Infond d.o.o. increased its Apple stake by 4.3% in the fourth quarter, adding 3,695 shares and bringing its total holding to 89,475 shares valued at about $24.3 million.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping forecasts, while revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share, and analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $308.74.

Sava Infond d.o.o. grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,475 shares of the iPhone maker's stock after purchasing an additional 3,695 shares during the quarter. Apple comprises approximately 3.3% of Sava Infond d.o.o.'s investment portfolio, making the stock its 10th biggest holding. Sava Infond d.o.o.'s holdings in Apple were worth $24,325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Vanguard Group Inc. grew its holdings in shares of Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock valued at $311,157,662,000 after buying an additional 5,005,297 shares during the last quarter. State Street Corp grew its holdings in shares of Apple by 0.9% during the second quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker's stock valued at $123,358,461,000 after buying an additional 5,224,229 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple by 1.4% during the second quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker's stock valued at $72,506,336,000 after buying an additional 4,942,638 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple during the second quarter valued at $38,942,255,000. Finally, Northern Trust Corp grew its holdings in shares of Apple by 13.3% during the fourth 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 last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction dated 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 directly owned 136,810 shares of the company's stock, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,759 shares of company stock valued at $24,964,305. Insiders own 0.06% of the company's stock.

Apple Stock Performance

AAPL stock opened at $308.82 on Monday. The company's 50-day simple moving average is $269.64 and its 200-day simple moving average is $268.62. 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 52-week low of $193.46 and a 52-week high of $311.40. The firm has a market cap of $4.54 trillion, a P/E ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is currently 13.06%.

Apple News Roundup

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada set a $325.00 price objective on shares of Apple in a report on Monday, February 2nd. Morgan Stanley reissued an "overweight" rating and set a $330.00 price objective (up from $315.00) on shares of Apple in a report on Friday, May 1st. BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. Maxim Group raised shares of Apple from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a report on Friday, January 30th. Finally, Oppenheimer reissued a "market perform" rating on shares of Apple in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned 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 an average price target of $308.74.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.