Coastline Trust Co trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,603 shares of the iPhone maker's stock after selling 3,751 shares during the period. Apple comprises about 5.0% of Coastline Trust Co's holdings, making the stock its 2nd largest position. Coastline Trust Co's holdings in Apple were worth $39,895,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank bought a new position in shares of Apple in the fourth quarter valued at $46,868,648,000. Northern Trust Corp lifted its stake in shares of 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 buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Apple by 14.3% in the fourth 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 purchasing an additional 13,137,968 shares during the last quarter. 67.73% of the stock is owned by institutional investors.
Apple Stock Performance
NASDAQ:AAPL traded down $4.2250 on Wednesday, reaching $226.3350. 21,412,486 shares of the company's stock were exchanged, compared to its average volume of 57,531,371. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 2.42 and a beta of 1.16. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a fifty day simple moving average of $210.83 and a 200-day simple moving average of $213.06.
Apple (NASDAQ:AAPL - Get Free Report) last issued its 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. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.
Insiders Place Their Bets
In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have recently commented on AAPL. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Loop Capital lowered their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Citigroup increased their target price on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a report on Friday, August 1st. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Finally, TD Cowen lowered their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.60.
Check Out Our Latest Report on Apple
Apple Profile
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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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