Ayalon Holdings Ltd. lifted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,366 shares of the iPhone maker’s stock after buying an additional 145 shares during the quarter. Apple comprises 3.6% of Ayalon Holdings Ltd.’s portfolio, making the stock its 6th biggest holding. Ayalon Holdings Ltd.’s holdings in Apple were worth $10,715,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AAPL. Norges Bank bought a new position in shares of Apple in the fourth quarter valued at about $25,228,507,000. State Street Corp raised its holdings 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 buying an additional 10,951,705 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Apple in the fourth quarter valued at about $1,461,735,000. Capital Research Global Investors raised its holdings in shares of Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after buying an additional 8,154,171 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after buying an additional 6,154,422 shares during the last quarter. 57.98% of the stock is owned by institutional investors.
Apple Price Performance
AAPL stock opened at $154.09 on Friday. The stock has a 50-day moving average price of $142.90 and a two-hundred day moving average price of $157.91. The stock has a market cap of $2.49 trillion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.19. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 6th. This is a boost from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s payout ratio is 14.94%.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were 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 directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AAPL shares. Evercore ISI decreased their price target on Apple from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Morgan Stanley decreased their price target on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. set a $200.00 price target on Apple in a report on Friday, July 1st. Oppenheimer reiterated an “outperform” rating and issued a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. Finally, Wells Fargo & Company decreased their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.73.
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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