International Assets Investment Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,284 shares of the iPhone maker's stock after selling 62,178 shares during the period. Apple accounts for about 2.4% of International Assets Investment Management LLC's holdings, making the stock its 4th largest holding. International Assets Investment Management LLC's holdings in Apple were worth $82,724,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Norges Bank bought a new position in shares of Apple in the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC raised its position in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on AAPL shares. Evercore ISI upped their price target on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. UBS Group upped their price target on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Citigroup upped their price target on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, TD Cowen cut their target price on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $237.25.
View Our Latest Analysis on AAPL
Insider Buying and Selling
In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.
Apple Trading Down 0.2%
Shares of AAPL stock opened at $202.92 on Wednesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock's 50-day moving average price is $205.58 and its 200-day moving average price is $213.24. The stock has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 2.14 and a beta of 1.16.
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. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
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 given a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple's dividend payout ratio (DPR) is currently 15.78%.
Apple declared that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.
About Apple
(
Free Report)
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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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).
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