Great Waters Wealth Management reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 15.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,389 shares of the iPhone maker's stock after selling 5,886 shares during the quarter. Apple makes up 1.0% of Great Waters Wealth Management's investment portfolio, making the stock its 14th largest position. Great Waters Wealth Management's holdings in Apple were worth $6,972,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Apple by 1.9% during 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 last quarter. Norges Bank acquired a new stake in shares of Apple during the 4th quarter worth about $46,868,648,000. Northern Trust Corp boosted its stake in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $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 boosted its stake in shares of Apple by 14.3% during the 4th 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 worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Down 0.6%
Shares of AAPL traded down $1.25 during mid-day trading on Friday, reaching $211.16. 39,713,698 shares of the stock traded hands, compared to its average volume of 53,349,236. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. The stock has a fifty day simple moving average of $203.39 and a 200 day simple moving average of $217.12. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.
Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.
Analysts Set New Price Targets
AAPL has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Barclays set a $173.00 target price on shares of Apple and gave the stock an "underweight" rating in a research report on Tuesday, June 24th. Bank of America reissued a "buy" rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Finally, Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $235.27.
Read Our Latest Stock Analysis on AAPL
Insider Buying and Selling
In related news, insider Chris Kondo sold 4,486 shares of Apple 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 sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.
Apple Company 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
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
