Noesis Capital Mangement Corp boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,746 shares of the iPhone maker's stock after purchasing an additional 6,114 shares during the quarter. Apple comprises approximately 1.8% of Noesis Capital Mangement Corp's investment portfolio, making the stock its 24th largest holding. Noesis Capital Mangement Corp's holdings in Apple were worth $9,452,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of AAPL. State Street Corp raised its stake in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares in the last quarter. FMR LLC raised its position in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC increased its holdings in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock worth $21,335,435,000 after buying an additional 1,742,087 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on AAPL shares. Tigress Financial raised their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Barclays reduced their target price on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Evercore ISI raised their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a $170.62 target price (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Hold" and a consensus price target of $235.80.
View Our Latest Stock Analysis on Apple
Apple Stock Performance
AAPL stock traded up $12.52 during mid-day trading on Monday, reaching $210.79. 41,201,323 shares of the stock traded hands, compared to its average volume of 56,038,904. The business has a 50-day moving average of $208.09 and a two-hundred day moving average of $227.33. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a market capitalization of $3.15 trillion, a PE ratio of 33.46, a P/E/G ratio of 2.44 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the business earned $1.53 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be paid a $0.26 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.
Apple declared that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.
Insider Buying and Selling at Apple
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated 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 transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock valued at $41,760,140 in the last quarter. Company insiders own 0.06% of the company's stock.
About Apple
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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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