Activest Wealth Management lifted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 22.6% in the first quarter, HoldingsChannel.com reports. The firm owned 20,429 shares of the iPhone maker’s stock after acquiring an additional 3,765 shares during the period. Apple comprises 2.3% of Activest Wealth Management’s investment portfolio, making the stock its 7th largest holding. Activest Wealth Management’s holdings in Apple were worth $3,567,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of 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 in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Norges Bank acquired a new position in Apple during the fourth quarter worth $25,228,507,000. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Apple by 5.1% during the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after acquiring an additional 3,096,696 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on AAPL. KeyCorp dropped their price objective on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Evercore ISI dropped their price objective on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on 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 report on Monday. Finally, StockNews.com assumed coverage on Apple in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $179.64.
Apple Trading Up 3.4 %
NASDAQ AAPL opened at $156.79 on Thursday. The firm has a market cap of $2.54 trillion, a P/E ratio of 25.45, a P/E/G ratio of 1.98 and a beta of 1.19. 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 moving average is $143.41 and its 200-day moving average is $157.62. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The company had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. Apple’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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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