Curated Wealth Partners LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,738 shares of the iPhone maker's stock after selling 2,579 shares during the period. Apple comprises 1.3% of Curated Wealth Partners LLC's investment portfolio, making the stock its 7th biggest holding. Curated Wealth Partners LLC's holdings in Apple were worth $10,382,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Vanguard Group Inc. increased its position in shares of Apple by 3.7% during 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 acquiring an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the period. Norges Bank bought a new stake in shares of Apple in the fourth quarter valued at $46,868,648,000. Northern Trust Corp raised its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a research report on Wednesday. DA Davidson upped their target price on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Finally, Bank of America reaffirmed a "buy" rating and issued a $235.00 price target on shares of Apple in a report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $235.27.
Get Our Latest Report on AAPL
Apple Stock Down 0.6%
Shares of NASDAQ:AAPL opened at $211.16 on Friday. The stock's 50-day moving average price is $203.39 and its 200-day moving average price is $217.41. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the business earned $1.53 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.
Insider Activity
In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
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.
Further Reading
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).
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