Loveless Wealth Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,602 shares of the iPhone maker’s stock after selling 440 shares during the quarter. Apple makes up approximately 2.6% of Loveless Wealth Management LLC’s investment portfolio, making the stock its 4th largest position. Loveless Wealth Management LLC’s holdings in Apple were worth $4,645,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. State Street Corp boosted its holdings in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the period. Geode Capital Management LLC lifted its position 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 last quarter. Norges Bank bought a new stake in shares of Apple during the fourth quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. grew its position in shares of Apple by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after purchasing an additional 1,273,148 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the period. Institutional investors own 57.72% of the company’s stock.
Apple Stock Down 0.8 %
Shares of NASDAQ AAPL opened at $154.53 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.48 trillion, a PE ratio of 25.50, a P/E/G ratio of 2.02 and a beta of 1.23. The company’s fifty day simple moving average is $156.11 and its 200 day simple moving average is $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 issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s payout ratio is 15.18%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on AAPL. Citigroup boosted their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Itaú Unibanco started coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Itau BBA Securities started coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Bank of America decreased their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Finally, The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.
Insider Buying and Selling at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated 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 $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated 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 owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 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.
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.