Stratos Wealth Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 156,418 shares of the iPhone maker’s stock after selling 10,604 shares during the quarter. Apple accounts for about 2.2% of Stratos Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Stratos Wealth Advisors LLC’s holdings in Apple were worth $27,312,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in AAPL. State Street Corp grew its holdings in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the period. Geode Capital Management LLC grew its stake 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 worth $46,812,958,000 after purchasing an additional 4,456,954 shares during the period. Norges Bank acquired a new stake in shares of Apple during the 4th quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $14,131,710,000 after purchasing an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings 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 buying an additional 3,096,696 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on 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 transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $157.35 on Friday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a market capitalization of $2.55 trillion, a P/E ratio of 25.54, a P/E/G ratio of 1.97 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 company’s fifty day moving average price is $143.81 and its 200 day moving average price is $157.52.
Apple (NASDAQ:AAPL – Get Rating) last posted its 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 business had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple declared that its board has approved a share repurchase plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.58%. Apple’s dividend payout ratio is currently 14.94%.
Analysts Set New Price Targets
A number of brokerages have weighed in on AAPL. StockNews.com started coverage on shares of Apple in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Itaú Unibanco started coverage on Apple in a research report on Tuesday. They set an “underperform” rating and a $136.00 price target on the stock. Itau BBA Securities started coverage on Apple in a research report on Tuesday. They issued an “underperform” rating and a $136.00 price objective for the company. Evercore ISI decreased their target price on Apple from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.82.
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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