Phocas Financial Corp. cut its stake in Apple Inc. (NASDAQ: AAPL – Get Rating) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,056 shares of the iPhone maker’s stock after selling 474 shares during the period. Phocas Financial Corp.’s holdings in Apple were worth $ 5,692,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. State Street Corp increased its stake in shares of Apple by 1.8% during 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 in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Apple by 1,841.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 8,755,560 shares of the iPhone maker’s stock valued at $ 78,548,000 after acquiring an additional 8,304,604 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Apple shares during the fourth quarter valued at approximately $ 1,461,735,000. Capital Research Global Investors increased its position in shares of Apple by 38.1% during the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $ 5,247,094,000 after acquiring an additional 8,154,171 shares in the last quarter. Finally, MFA Wealth Advisors LLC increased its position in shares of Apple by 12,722.7% during the third quarter. MFA Wealth Advisors LLC now owns 7,461,010 shares of the iPhone maker’s stock valued at $ 7,924,000 after acquiring an additional 7,402,824 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company stock.
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 161.72, for a total value of $ 4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $ 73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 29,198 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $ 177.77, for a total transaction 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. In the last quarter, insiders sold 168,099 shares of company stock worth $ 29,376,711. Corporate insiders own 0.06% of the company stock.
AAPL opened at $ 131.88 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. Apple Inc. has a fifty-two week low of $ 127.07 and a fifty-two week high of $ 182.94. The firm’s fifty day moving average is $ 154.31 and its 200 day moving average is $ 164.22. The stock has a market cap of $ 2.13 trillion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20.
Apple (NASDAQ: AAPL – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $ 1.52 EPS for the quarter, topping the consensus estimate of $ 1.43 by $ 0.09. The business had revenue of $ 97.28 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $ 1.40 EPS. On average, equities research analysts predict that Apple Inc. will post 6.11 earnings per share for the current year.
Apple announced that its board has authorized 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 repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were paid a $ 0.23 dividend. The ex-dividend date of this dividend was Friday, May 6th. This represents a $ 0.92 annualized dividend and a yield of 0.70%. This is a boost from Apple’s previous quarterly dividend of $ 0.22. Apple’s payout ratio is presently 14.94%.
Several equities research analysts recently weighed in on AAPL shares. Fundamental Research reduced their price target on Apple shares from $ 179.32 to $ 175.24 and set an “average” rating for the company in a research report on Friday, May 6th. Morgan Stanley set a $ 195.00 price target on shares of Apple in a research report on Friday, June 3rd. Bank of America reduced their price target on Apple shares from $ 215.00 to $ 200.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. UBS Group set a $ 185.00 target price on shares of Apple in a research report on Thursday, May 26th. Finally, JPMorgan Chase & Co. set a $ 200.00 target price on shares of Apple in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Buy” and an average target price of $ 187.61.
Apple Company Profile: (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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