Trust Co of Kansas reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,831 shares of the iPhone maker's stock after selling 1,359 shares during the quarter. Apple makes up approximately 4.8% of Trust Co of Kansas' portfolio, making the stock its 3rd biggest position. Trust Co of Kansas' holdings in Apple were worth $9,070,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth $46,868,648,000. GAMMA Investing LLC lifted its holdings in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Apple by 3.7% during 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 increased its holdings 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 valued at $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Apple by 13.3% in 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 purchasing an additional 20,079,472 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on AAPL shares. UBS Group boosted their price objective on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Bank of America boosted their price target on Apple from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $237.60.
Check Out Our Latest Analysis on Apple
Insider Buying and Selling at Apple
In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.
Apple Stock Performance
AAPL traded up $6.78 during trading hours on Thursday, hitting $220.03. 88,530,516 shares of the stock were exchanged, compared to its average volume of 57,598,227. The stock has a market cap of $3.27 trillion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. The stock has a 50-day simple moving average of $205.84 and a 200-day simple moving average of $213.24. 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 12 month low of $169.21 and a 12 month high of $260.10.
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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the prior year, the firm earned $1.40 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.
Apple declared that its board has authorized a share buyback plan 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 plans are often a sign that the company's leadership 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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