Factory Mutual Insurance Co. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,851,021 shares of the iPhone maker's stock after selling 83,500 shares during the period. Apple accounts for approximately 4.8% of Factory Mutual Insurance Co.'s investment portfolio, making the stock its 3rd biggest holding. Factory Mutual Insurance Co.'s holdings in Apple were worth $411,167,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. lifted its position in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC lifted its position in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares in the last quarter. Norges Bank bought a new position in Apple in the 4th quarter valued at about $46,868,648,000. Northern Trust Corp lifted its position in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Apple
In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Apple Trading Up 0.8%
AAPL stock traded up $1.68 during trading on Tuesday, reaching $214.16. The company had a trading volume of 25,198,720 shares, compared to its average volume of 53,032,198. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market cap of $3.20 trillion, a P/E ratio of 33.34, a PEG ratio of 2.36 and a beta of 1.20. The business has a 50 day moving average of $204.57 and a 200 day moving average of $215.41. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. Apple's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.
Analyst Upgrades and Downgrades
AAPL has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Apple from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Evercore ISI lifted their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Monness Crespi & Hardt lifted their target price on shares of Apple to $245.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.11.
Check Out Our Latest Stock Report on Apple
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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