Centre Asset Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,497 shares of the iPhone maker's stock after selling 8,031 shares during the period. Apple makes up 6.7% of Centre Asset Management LLC's portfolio, making the stock its biggest position. Centre Asset Management LLC's holdings in Apple were worth $26,100,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OneAscent Wealth Management LLC increased its position in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares in the last quarter. Allstate Corp grew its stake in Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in shares of Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after buying an additional 83,997 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Apple by 9.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Berkshire Bank raised its stake in shares of Apple by 2.7% in the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after acquiring an additional 2,360 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on AAPL shares. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average target price of $234.86.
Get Our Latest Research Report on Apple
Apple Trading Down 0.6%
AAPL stock traded down $1.20 during midday trading on Tuesday, hitting $200.30. 53,951,325 shares of the company's stock were exchanged, compared to its average volume of 53,512,333. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The company has a market cap of $2.99 trillion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. The stock's fifty day moving average price is $202.29 and its 200-day moving average price is $220.98.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the previous year, the business posted $1.53 EPS. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.
Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits 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 board believes its stock is undervalued.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 over the last quarter. Corporate insiders own 0.06% of the company's stock.
Apple Profile
(
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.
Further Reading
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
