Family Capital Trust Co lowered its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 17.2% in the first quarter, Holdings Channel.com reports. The firm owned 56,870 shares of the iPhone maker’s stock after selling 11,851 shares during the period. Apple accounts for 3.2% of Family Capital Trust Co’s investment portfolio, making the stock its 4th largest holding. Family Capital Trust Co’s holdings in Apple were worth $9,930,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. State Street Corp grew its position in 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 acquiring an additional 10,951,705 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 4,456,954 shares in the last quarter. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. lifted its stake in shares of 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, Fisher Asset Management LLC lifted its stake in shares of 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 purchasing an additional 3,096,696 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Barclays boosted their price objective on Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a research note on Friday. Itau BBA Securities started coverage on Apple in a research note on Tuesday. They set an “underperform” rating and a $136.00 price objective on the stock. Itaú Unibanco started coverage on Apple in a research note on Tuesday. They issued an “underperform” rating and a $136.00 price target on the stock. Loop Capital cut their price target on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Apple from $200.00 to $175.00 in a research note on Tuesday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $179.04.
In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $162.51 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a fifty day moving average of $144.31 and a 200-day moving average of $157.43. The company has a market capitalization of $2.63 trillion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. 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 (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is currently 14.94%.
Apple announced that its board has initiated a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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