Dynamic Advisor Solutions LLC raised its holdings in Apple Inc. (NASDAQ: AAPL – Get Rating) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,490 shares of the iPhone maker’s stock after purchasing an additional 20,575 shares during the quarter. Apple accounts for 4.1% of Dynamic Advisor Solutions LLC’s investment portfolio, making the stock its largest position. Dynamic Advisor Solutions LLC’s holdings in Apple were worth $ 59,453,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $ 112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $ 46,812,958,000 after buying an additional 4,456,954 shares during the last quarter. Norges Bank bought a new position in shares of Apple during the 4th quarter worth $ 25,228,507,000. Charles Schwab Investment Management Inc. increased its holdings in Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $ 14,131,710,000 after acquiring an additional 1,273,148 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Apple by 1.1% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 69,224,701 shares of the iPhone maker’s stock valued at $ 9,795,295,000 after acquiring an additional 759,577 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.
In other Apple news, COO Jeffrey E. Williams sold 105,901 shares of the company stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 489,662 shares of the company stock, valued at approximately $ 87,037,420.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of Apple stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $ 177.77, for a total value of $ 5,190,528.46. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $ 24,228,273.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,099 shares of company stock valued at $ 29,376,711. Insiders own 0.06% of the company stock.
AAPL opened at $ 141.66 on Monday. 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 stock’s 50 day simple moving average is $ 148.09 and its 200 day simple moving average is $ 162.18. The firm has a market cap of $ 2.29 trillion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.86 and a beta of 1.20. Apple Inc. has a 1 year low of $ 129.04 and a 1 year high of $ 182.94.
Apple (NASDAQ: AAPL – Get Rating) last issued its earnings results on Thursday, April 28th. The iPhone maker reported $ 1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.43 by $ 0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $ 97.28 billion for the quarter, compared to analysts’ expectations of $ 93.99 billion. During the same quarter last year, the business earned $ 1.40 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.
Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 28th that authorizes the company to buyback $ 90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a $ 0.23 dividend. This is a boost from Apple’s previous quarterly dividend of $ 0.22. The ex-dividend date was Friday, May 6th. This represents a $ 0.92 dividend on an annualized basis and a dividend yield of 0.65%. Apple’s payout ratio is presently 14.94%.
Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Apple from $ 200.00 to $ 195.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Apple from $ 200.00 to $ 175.00 in a research note on Tuesday, June 14th. JPMorgan Chase & Co. set a $ 200.00 target price on Apple in a research report on Monday, June 20th. Credit Suisse Group set a $ 169.00 price target on Apple in a research report on Friday, April 29th. Finally, Fundamental Research dropped their price target on Apple from $ 179.32 to $ 175.24 and set an “average” rating on the stock in a report on Friday, May 6th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $ 186.55.
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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