Chico Wealth RIA acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 44,635 shares of the iPhone maker’s stock, valued at approximately $7,794,000. Apple makes up about 6.2% of Chico Wealth RIA’s investment portfolio, making the stock its 5th largest position.
Several other large investors also recently made changes to their positions in AAPL. Norges Bank bought a new position in shares of Apple during the 4th quarter valued at about $25,228,507,000. State Street Corp boosted its holdings in shares of Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Apple in the fourth quarter worth about $1,461,735,000. Capital Research Global Investors boosted its holdings in shares of Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after buying an additional 8,154,171 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after buying an additional 6,154,422 shares during the period. Institutional investors own 57.98% of the company’s stock.
Analyst Ratings Changes
AAPL has been the subject of several recent analyst reports. Credit Suisse Group set a $166.00 target price on shares of Apple in a report on Friday, July 29th. Loop Capital decreased their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. UBS Group set a $185.00 target price on shares of Apple in a report on Thursday, July 21st. Barclays reduced their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Finally, Evercore ISI increased their price target on shares of Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.
Insider Transactions at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.
Apple Trading Down 0.1 %
Shares of Apple stock opened at $165.35 on Friday. The company’s fifty day simple moving average is $146.34 and its 200-day simple moving average is $157.06. The company has a market cap of $2.66 trillion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 6.1 EPS for the current year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. Apple’s payout ratio is 15.18%.
Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Apple Company Profile
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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