Minot Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL – Get 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:AAPL – Get 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.
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