Evanson Asset Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 416,595 shares of the iPhone maker's stock after selling 6,298 shares during the period. Apple comprises approximately 6.7% of Evanson Asset Management LLC's holdings, making the stock its 3rd largest holding. Evanson Asset Management LLC's holdings in Apple were worth $92,538,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 1.9% during 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 purchasing an additional 6,307,413 shares during the last quarter. Norges Bank bought a new stake in shares of Apple during the fourth quarter valued at approximately $46,868,648,000. Northern Trust Corp grew its stake in shares of Apple by 13.3% during 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 purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Apple by 14.3% during 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. Institutional investors own 67.73% of the company's stock.
Apple Price Performance
Shares of NASDAQ:AAPL traded down $4.62 during midday trading on Friday, hitting $202.95. The stock had a trading volume of 46,370,982 shares, compared to its average volume of 56,587,043. The company's 50-day moving average price is $205.22 and its 200-day moving average price is $213.98. The company has a market capitalization of $3.03 trillion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 2.30 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.
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, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the business posted $1.40 earnings per share. The company's quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its board has approved a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Insider Transactions at Apple
In other 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 sale, the insider directly owned 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on AAPL shares. TD Cowen decreased their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. UBS Group increased their price target on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday. Tigress Financial raised their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Monness Crespi & Hardt raised their price objective on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday. Finally, Bank of America raised their price objective on shares of Apple from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $237.25.
Check Out Our Latest Research Report on AAPL
Apple Company 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
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