SEB Asset Management AB Invests $1.27 Billion in Apple Inc. $AAPL

Key Points

• SEB Asset Management acquired 4.99 million Apple shares worth approximately $1.27 billion, making Apple its second-largest holding at about 5.4% of the portfolio. Institutional investors collectively own 67.73% of Apple.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $331.60, despite mixed target-price revisions and one underweight rating.
• Apple reported quarterly earnings and revenue above estimates, with revenue up 16.4% year over year, and declared a quarterly dividend of $0.27 per share. Shares opened at $303.42, down 1.8% in the reported session.

SEB Asset Management AB bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,986,398 shares of the iPhone maker's stock, valued at approximately $1,265,497,000. Apple accounts for approximately 5.4% of SEB Asset Management AB's holdings, making the stock its 2nd biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in Apple by 6.1% during the first quarter. Swiss National Bank now owns 43,134,968 shares of the iPhone maker's stock valued at $10,947,224,000 after acquiring an additional 2,467,900 shares during the period. Hanseatic Management Services Inc. acquired a new stake in Apple during the first quarter worth about $1,427,000. AIA Group Ltd raised its holdings in shares of Apple by 5.8% in the 1st quarter. AIA Group Ltd now owns 457,049 shares of the iPhone maker's stock worth $115,994,000 after purchasing an additional 25,068 shares during the period. Legacy Wealth Advisors LLC lifted its stake in shares of Apple by 24.6% in the 1st quarter. Legacy Wealth Advisors LLC now owns 22,483 shares of the iPhone maker's stock valued at $5,706,000 after purchasing an additional 4,445 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in shares of Apple by 10.0% in the 1st quarter. Mediolanum International Funds Ltd now owns 2,399,089 shares of the iPhone maker's stock valued at $591,687,000 after purchasing an additional 217,361 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. TD Cowen increased their target price on shares of Apple from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Apple from $345.00 to $340.00 and set an "overweight" rating on the stock in a research report on Friday. HSBC upgraded shares of Apple from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $260.00 to $366.00 in a research note on Thursday, July 16th. KeyCorp reissued an "underweight" rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, July 28th. Finally, Maxim Group restated a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $331.60.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 1,274 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,226,770. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 1.8%

AAPL opened at $303.42 on Tuesday. The firm has a market capitalization of $4.46 trillion, a P/E ratio of 34.80, a P/E/G ratio of 2.65 and a beta of 1.09. The firm's 50 day moving average is $309.40 and its 200-day moving average is $281.90. Apple Inc. has a 52-week low of $201.68 and a 52-week high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 earnings per share. Analysts expect that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple's payout ratio is currently 12.39%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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