AEGON ASSET MANAGEMENT UK Plc reduced its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,242,256 shares of the iPhone maker’s stock after selling 199,490 shares during the period. Apple accounts for approximately 8.4% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 2nd largest position. AEGON ASSET MANAGEMENT UK Plc’s holdings in Apple were worth $566,325,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew 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 purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC grew its holdings 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 purchased a new position in shares of Apple during the 4th quarter worth $25,228,507,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple by 1.6% during the 4th 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 during the period. Finally, Fisher Asset Management LLC boosted its holdings in Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after acquiring an additional 3,096,696 shares during the period. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Apple Trading Up 3.8 %
Shares of AAPL stock opened at $166.13 on Thursday. The business’s 50 day moving average is $145.58 and its two-hundred day moving average is $157.20. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a market capitalization of $2.69 trillion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 2.09 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.11 EPS for the current year.
Apple announced that its board has authorized a share buyback 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 of directors believes its shares are undervalued.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on AAPL shares. KeyCorp increased their price target on Apple from $173.00 to $177.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup raised their target price on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Evercore ISI raised their target price on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Itaú Unibanco initiated coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. Finally, Fundamental Research raised their target price on Apple to $177.00 and gave the stock an “average” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.21.
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.