Apple Inc. (NASDAQ:AAPL) Position Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 33.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,932,129 shares of the iPhone maker's stock after purchasing an additional 1,741,143 shares during the quarter. Apple makes up approximately 4.1% of Mirae Asset Global Investments Co. Ltd.'s investment portfolio, making the stock its 3rd largest position. Mirae Asset Global Investments Co. Ltd.'s holdings in Apple were worth $1,539,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Tallon Kerry Patrick purchased a new stake in Apple in the fourth quarter worth about $1,877,000. First National Bank of Hutchinson lifted its stake in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after acquiring an additional 6,982 shares during the period. Capital & Planning LLC lifted its stake in Apple by 10.7% in the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after acquiring an additional 2,647 shares during the period. Eagle Capital Management LLC lifted its stake in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the period. Finally, Brighton Jones LLC lifted its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $3.95 during midday trading on Wednesday, reaching $233.60. 55,591,683 shares of the company's stock traded hands, compared to its average volume of 57,968,047. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.47 trillion, a P/E ratio of 35.51, a PEG ratio of 2.38 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a fifty day simple moving average of $207.88 and a two-hundred day simple moving average of $213.21.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. 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 firm posted $1.40 EPS. The business's revenue was up 9.6% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 15.78%.

Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Morgan Stanley boosted their target price on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Loop Capital reduced 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. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Friday, July 25th. Finally, DA Davidson reiterated a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $237.60.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Apple Company Profile

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.