China Universal Asset Management Co. Ltd. Has $66.05 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• China Universal Asset Management trimmed its Apple stake by 3.4% in the fourth quarter, but still held 242,967 shares valued at about $66.05 million. Apple remained its third-largest holding and made up 5.1% of the portfolio.
• Apple reported strong fiscal Q2 results, beating analyst expectations with EPS of $2.01 and revenue of $111.18 billion, up 16.6% year over year. The company also lifted its quarterly dividend to $0.27 per share from $0.26.
• Insider selling continued, including sizable sales by SVP Deirdre O’Brien and insider Ben Borders, with insiders selling 97,759 shares worth about $24.96 million over the last quarter. Despite that, Wall Street remains broadly positive, with Apple carrying a Moderate Buy consensus rating and a $308.74 price target.

China Universal Asset Management Co. Ltd. lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,967 shares of the iPhone maker's stock after selling 8,628 shares during the period. Apple comprises about 5.1% of China Universal Asset Management Co. Ltd.'s portfolio, making the stock its 3rd largest holding. China Universal Asset Management Co. Ltd.'s holdings in Apple were worth $66,053,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AAPL. Sellwood Investment Partners LLC grew its position in shares of Apple by 110.9% in the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker's stock valued at $34,000 after acquiring an additional 71 shares during the period. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management bought a new position in shares of Apple in the 4th quarter valued at about $65,000. PayPay Securities Corp grew its position in shares of Apple by 52.1% in the 4th quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker's stock valued at $99,000 after acquiring an additional 125 shares during the period. Finally, eCIO Inc. bought a new position in shares of Apple in the 4th quarter valued at about $112,000. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value 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. The trade was a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 97,759 shares of company stock worth $24,964,305 over the last quarter. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL stock opened at $308.82 on Friday. The company has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company has a 50-day simple moving average of $269.64 and a 200 day simple moving average of $268.63. Apple Inc. has a 52 week low of $193.46 and a 52 week high of $311.40.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. On average, sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is presently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAPL. Stephens set a $315.00 price objective on shares of Apple in a research report on Monday, January 26th. Tigress Financial reissued a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Phillip Securities raised shares of Apple from a "moderate sell" rating to a "hold" rating in a research report on Sunday, February 1st. KeyCorp reissued a "sector weight" rating on shares of Apple in a research report on Thursday, March 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $308.74.

About Apple

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.