OVERSEA CHINESE BANKING Corp Ltd Purchases 1,704 Shares of Apple Inc. $AAPL

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Apple Inc. by 0.4%, now holding 471,257 shares worth approximately $104.6 million.
• Apple reported earnings of $1.57 per share for the last quarter, surpassing expectations, with revenues reaching $94.04 billion.
• Recent analysts have raised their price targets for Apple, with JPMorgan increasing its target from $250 to $255, reflecting a strong outlook for the company.

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 471,257 shares of the iPhone maker's stock after acquiring an additional 1,704 shares during the period. Apple comprises about 2.9% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 6th largest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in Apple were worth $104,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Apple by 3.7% in the 4th 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 during the last quarter. Geode Capital Management LLC increased 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 worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the period. Norges Bank bought a new position in shares of Apple in the fourth quarter worth about $46,868,648,000. Northern Trust Corp boosted its position 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 acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on AAPL shares. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. Morgan Stanley set a $240.00 price target on shares of Apple and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group restated a "buy" rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. HSBC set a $220.00 price objective on shares of Apple and gave the company a "hold" rating in a research note on Monday. Finally, Jefferies Financial Group increased their price target on Apple from $190.67 to $205.82 and gave the company a "hold" rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $238.99.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.8%

NASDAQ AAPL traded down $1.94 on Monday, hitting $237.75. The company's stock had a trading volume of 26,928,241 shares, compared to its average volume of 56,577,613. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company's 50-day moving average is $219.28 and its 200 day moving average is $212.40. The firm has a market cap of $3.53 trillion, a PE ratio of 36.07, a PEG ratio of 2.50 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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. 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 the consensus estimate of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The company's revenue was up 9.6% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is presently 15.78%.

Apple 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.