Stolper Co decreased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,246 shares of the iPhone maker’s stock after selling 3,058 shares during the period. Apple accounts for approximately 4.7% of Stolper Co’s holdings, making the stock its 2nd largest position. Stolper Co’s holdings in Apple were worth $11,567,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. State Street Corp grew its holdings in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC grew its holdings in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares during the period. Norges Bank bought a new position in Apple during the fourth quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. grew its holdings in Apple by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after purchasing an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Apple by 5.1% during the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after purchasing an additional 3,096,696 shares during the period. Institutional investors own 57.98% of the company’s stock.
Shares of AAPL opened at $138.93 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a market cap of $2.25 trillion, a P/E ratio of 22.55, a P/E/G ratio of 1.86 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $145.41 and a two-hundred day simple moving average of $160.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. On average, analysts expect that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were paid 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 boost from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is presently 14.94%.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 105,901 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the sale, the chief operating officer now directly owns 489,662 shares in the company, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,099 shares of company stock worth $29,376,711. Insiders own 0.06% of the company’s stock.
A number of equities analysts recently commented on AAPL shares. JPMorgan Chase & Co. set a $200.00 price target on Apple in a report on Friday. StockNews.com began coverage on shares of Apple in a research report on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler cut their price objective on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Loop Capital cut their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Finally, Oppenheimer restated an “outperform” rating and set a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $185.64.
About Apple (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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