Alphinity Investment Management Pty Ltd increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,544,771 shares of the iPhone maker’s stock after purchasing an additional 426,228 shares during the quarter. Apple makes up approximately 10.3% of Alphinity Investment Management Pty Ltd’s holdings, making the stock its largest holding. Alphinity Investment Management Pty Ltd’s holdings in Apple were worth $444,342,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Daniels&Tansey LLP increased its holdings in shares of Apple by 1.6% in the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after purchasing an additional 60 shares during the period. Donald L. Hagan LLC boosted its position in Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after buying an additional 61 shares during the period. Goodwin Daniel L raised its stake in shares of Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after acquiring an additional 62 shares during the last quarter. Opus Capital Group LLC raised its stake in shares of Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares during the last quarter. Finally, Norwood Financial Corp raised its stake in shares of Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Insider Buying and Selling 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 value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages have recently commented on AAPL. UBS Group set a $185.00 price objective on shares of Apple in a research note on Thursday, July 21st. The Goldman Sachs Group set a $139.00 price objective on shares of Apple in a research note on Friday, July 29th. Loop Capital decreased their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.27.
Apple Trading Up 0.0 %
Shares of Apple stock opened at $164.92 on Wednesday. The stock has a market capitalization of $2.65 trillion, a PE ratio of 27.21, a P/E/G ratio of 2.14 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company’s fifty day simple moving average is $146.97 and its 200-day simple moving average is $157.08. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company 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 revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.
Apple declared that its Board of Directors has approved a share repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Apple’s dividend payout ratio is currently 15.18%.
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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