BSN CAPITAL PARTNERS Ltd bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 525,502 shares of the iPhone maker's stock, valued at approximately $143,924,000. Apple makes up about 6.4% of BSN CAPITAL PARTNERS Ltd's portfolio, making the stock its 5th largest holding.
Other institutional investors have also modified their holdings of the company. Overbrook Management Corp increased its position in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after purchasing an additional 38,174 shares in the last quarter. Torren Management LLC purchased a new position in Apple in the 4th quarter valued at $1,178,000. Tufton Capital Management lifted its holdings in Apple by 4.3% in the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after purchasing an additional 4,157 shares in the last quarter. Adventist Health System Sunbelt Healthcare Corp acquired a new stake in Apple during the 4th quarter worth $105,482,000. Finally, KBC Group NV boosted its stake in Apple by 3.1% during the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock worth $1,915,172,000 after purchasing an additional 214,215 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
- Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
- Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
- Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title
Apple Price Performance
Shares of AAPL opened at $298.01 on Monday. Apple Inc. has a 52-week low of $196.85 and a 52-week high of $317.40. The company has a market capitalization of $4.38 trillion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The stock has a fifty day simple moving average of $289.73 and a two-hundred day simple moving average of $272.91. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, equities analysts forecast that Apple Inc. will post 8.75 EPS for the current year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple's payout ratio is presently 13.06%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt upped their target price on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Moffett Nathanson raised their price target on shares of Apple from $241.00 to $270.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Citigroup restated a "buy" rating on shares of Apple in a research report on Monday, June 1st. Tigress Financial reaffirmed a "strong-buy" rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $314.59.
Read Our Latest Research Report on AAPL
Insider Activity
In other news, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. This represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 97,875 shares of company stock valued at $24,998,541 over the last three months. 0.06% of the stock is currently owned by company insiders.
Apple Company Profile
(
Free Report)
Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
Further Reading
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