Bradley & Co. Private Wealth Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,282 shares of the iPhone maker’s stock after selling 3,388 shares during the quarter. Apple comprises 10.2% of Bradley & Co. Private Wealth Management LLC’s holdings, making the stock its biggest position. Bradley & Co. Private Wealth Management LLC’s holdings in Apple were worth $11,923,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised 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 buying an additional 10,951,705 shares during the last quarter. 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 acquiring an additional 4,456,954 shares during the period. Norges Bank acquired a new stake in Apple during the fourth quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. boosted its position 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 in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Apple by 1.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 55,610,954 shares of the iPhone maker’s stock worth $9,874,837,000 after purchasing an additional 871,249 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AAPL. UBS Group set a $185.00 target price on Apple in a research report on Thursday, July 21st. Wells Fargo & Company cut their target price on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Itaú Unibanco started coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Finally, Loop Capital cut their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have given 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.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $182.00.
Apple Stock Performance
Shares of NASDAQ:AAPL opened at $157.96 on Friday. The firm has a market capitalization of $2.54 trillion, a PE ratio of 26.07, a P/E/G ratio of 2.09 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The business has a 50-day moving average of $156.11 and a two-hundred day moving average of $157.00. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.
Insider Transactions at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Company Profile
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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