PDS Planning Inc grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,651 shares of the iPhone maker's stock after acquiring an additional 7,004 shares during the period. Apple accounts for approximately 2.0% of PDS Planning Inc's holdings, making the stock its 13th largest position. PDS Planning Inc's holdings in Apple were worth $23,912,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 buying an additional 49,168,843 shares during the period. Geode Capital Management LLC boosted its holdings 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 buying an additional 6,307,413 shares during the period. Norges Bank bought a new stake in shares of Apple during the 4th quarter worth $46,868,648,000. Northern Trust Corp boosted its holdings 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 buying an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 buying an additional 13,137,968 shares during the period. 67.73% of the stock is owned by institutional investors.
Apple Trading Up 4.2%
Apple stock traded up $9.32 during midday trading on Friday, hitting $229.35. 113,661,399 shares of the stock were exchanged, compared to its average volume of 56,719,256. The company has a fifty day simple moving average of $206.84 and a two-hundred day simple moving average of $213.14. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $3.40 trillion, a PE ratio of 34.80, a P/E/G ratio of 2.40 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 EPS. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.
Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley increased their price objective on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Bank of America increased their target price on shares of Apple from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $237.60.
Get Our Latest Research Report on Apple
Insider Buying and Selling
In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.
About Apple
(
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.
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