Apple Inc. (NASDAQ:AAPL) Shares Sold by Minot Wealth Management LLC



Minot Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,072 shares of the iPhone maker’s stock after selling 420 shares during the period. Apple makes up 6.7% of Minot Wealth Management LLC’s portfolio, making the stock its largest position. Minot Wealth Management LLC’s holdings in Apple were worth $30,919,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AAPL. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $25,228,507,000. State Street Corp grew its holdings in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of Apple by 1,841.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 8,755,560 shares of the iPhone maker’s stock valued at $78,548,000 after buying an additional 8,304,604 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Apple in the 4th quarter valued at $1,461,735,000. Finally, Capital Research Global Investors lifted its position in Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after acquiring an additional 8,154,171 shares in the last quarter. 57.98% of the stock is owned by institutional investors.

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 8,000 shares of the stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $22,475,583.90. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Shares of AAPL opened at $138.93 on Tuesday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The firm has a market cap of $2.25 trillion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. The firm’s 50-day simple moving average is $144.93 and its 200 day simple moving average is $160.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Apple’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a share buyback program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is presently 14.94%.

AAPL has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Apple from $200.00 to $175.00 in a research report on Tuesday, June 14th. Piper Sandler cut their price objective on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Rosenblatt Securities cut their price objective on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, May 2nd. Bank of America cut their price objective on shares of Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Finally, Morgan Stanley cut their price objective on shares of Apple from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 14th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $185.64.

Apple Profile (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Recommended Stories

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link