Acadian Asset Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,766,741 shares of the iPhone maker's stock after selling 944,182 shares during the period. Apple comprises approximately 3.0% of Acadian Asset Management LLC's holdings, making the stock its biggest position. Acadian Asset Management LLC's holdings in Apple were worth $1,058,798,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Burkett Financial Services LLC lifted its stake in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC lifted its stake in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares during the period. OneAscent Wealth Management LLC lifted its stake in shares of Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the period. Bell & Brown Wealth Advisors LLC lifted its stake in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after purchasing an additional 240 shares during the period. Finally, Andina Capital Management LLC lifted its stake in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after purchasing an additional 4,591 shares during the period. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The shares were 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 directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.
Apple Trading Up 1.8%
Apple stock opened at $234.07 on Monday. The stock has a market cap of $3.47 trillion, a P/E ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm's 50 day moving average price is $221.50 and its 200-day moving average price is $212.02.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on AAPL shares. Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Tuesday, September 9th. DA Davidson restated a "neutral" rating and set a $250.00 target price on shares of Apple in a research note on Thursday. Phillip Securities cut shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a research note on Thursday. Bank of America raised their target price on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $266.00 target price on shares of Apple in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average target price of $240.80.
View Our Latest Report on AAPL
About Apple
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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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