Norway Savings Bank cut its position in shares of Apple Inc. (NASDAQ: AAPL – Get Rating) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,876 shares of the iPhone maker’s stock after selling 645 shares during the quarter. Apple makes up about 4.2% of Norway Savings Bank’s holdings, making the stock its 2nd biggest position. Norway Savings Bank’s holdings in Apple were worth $ 9,407,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new stake in Apple shares in the third quarter valued at approximately $ 29,000. Shore Point Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $ 41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $ 57,000. Econ Financial Services Corp bought a new stake in Apple shares in the fourth quarter valued at approximately $ 58,000. Finally, Spence Asset Management bought a new stake in Apple shares in the fourth quarter valued at approximately $ 63,000. Institutional investors and hedge funds own 57.98% of the company stock.
NASDAQ: AAPL opened at $ 141.66 on Friday. The firm has a 50-day simple moving average of $ 148.09 and a two-hundred day simple moving average of $ 162.35. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The firm has a market cap of $ 2.29 trillion, a P / E ratio of 23.00, a P / E / G ratio of 1.77 and a beta of 1.20. Apple Inc. has a fifty-two week low of $ 129.04 and a fifty-two week high of $ 182.94.
Apple (NASDAQ: AAPL – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $ 1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.43 by $ 0.09. The firm had revenue of $ 97.28 billion for 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 business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $ 1.40 EPS. On average, equities research analysts predict that Apple Inc. will post 6.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were issued a dividend of $ 0.23 per share. This represents a $ 0.92 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, May 6th. This is an increase from Apple’s previous quarterly dividend of $ 0.22. Apple’s dividend payout ratio (DPR) is presently 14.94%.
Apple declared that its board has initiated a share 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 buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company management believes its stock is undervalued.
Several analysts have recently issued reports on AAPL shares. Credit Suisse Group set a $ 169.00 price target on shares of Apple in a research report on Friday, April 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Apple from $ 200.00 to $ 175.00 in a report on Tuesday, June 14th. Piper Sandler decreased their target price on shares of Apple from $ 200.00 to $ 195.00 in a report on Friday, April 29th. Bank of America decreased their target price on Apple shares from $ 215.00 to $ 200.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Finally, Deutsche Bank Rese… set a $ 210.00 target price on shares of Apple in a report on Friday, April 8th. Nine equities research 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 stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $ 186.55.
In other news, SVP Deirdre O’brien sold 29,198 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $ 177.77, for a total transaction of $ 5,190,528.46. Following the sale, the senior vice president now owns 136,290 shares of the company stock, valued at approximately $ 24,228,273.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $ 161.72, for a total transaction of $ 4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $ 73,151,454.48. 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 stock.
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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