Allspring Global Investments Holdings LLC Has $955.67 Million Stake in Apple Inc. (NASDAQ:AAPL)

Allspring Global Investments Holdings LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,281,879 shares of the iPhone maker's stock after selling 328,115 shares during the period. Apple makes up 1.7% of Allspring Global Investments Holdings LLC's holdings, making the stock its 2nd biggest holding. Allspring Global Investments Holdings LLC's holdings in Apple were worth $955,673,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in Apple in the fourth quarter valued at about $1,877,000. First National Bank of Hutchinson grew its position in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Capital & Planning LLC grew its position in Apple by 10.7% in the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after acquiring an additional 2,647 shares during the last quarter. Eagle Capital Management LLC grew its position in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Finally, Brighton Jones LLC grew its position in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction 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 approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup lifted their target price on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday. Evercore ISI reissued an "outperform" rating and set a $250.00 price target on shares of Apple in a research note on Wednesday. Finally, Raymond James Financial reissued an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $237.60.

Apple Stock Down 0.2%

Apple stock traded down $0.42 during trading on Thursday, hitting $232.91. 37,584,287 shares of the company were exchanged, compared to its average volume of 57,933,523. The business's 50 day moving average is $208.49 and its 200 day moving average is $213.35. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $3.46 trillion, a P/E ratio of 35.33, a PEG ratio of 2.40 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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, 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 the consensus estimate of $88.64 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Apple's revenue was up 9.6% compared to the same quarter last year. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Apple Dividend Announcement

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

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.