Cerity Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,723,399 shares of the iPhone maker’s stock after selling 26,052 shares during the quarter. Apple comprises approximately 4.4% of Cerity Partners LLC’s holdings, making the stock its 3rd largest position. Cerity Partners LLC’s holdings in Apple were worth $281,951,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Apple by 1.8% in the 4th 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 in the last quarter. Geode Capital Management LLC raised its holdings in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after acquiring an additional 4,456,954 shares in the last quarter. Norges Bank acquired a new position in Apple in the 4th quarter valued at approximately $25,228,507,000. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Apple by 5.1% in 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 in the last quarter. Institutional investors own 57.98% of the company’s stock.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple 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 transaction, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analysts Forecast Growth
AAPL has been the subject of a number of recent research reports. UBS Group set a $185.00 target price on Apple in a report on Thursday, July 21st. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Credit Suisse Group set a $169.00 target price on Apple in a report on Friday, April 29th. Barclays dropped their target price on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Finally, Fundamental Research dropped their target price on Apple from $179.32 to $175.24 and set an “average” rating for the company in a report on Friday, May 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.73.
Apple Stock Down 0.7 %
NASDAQ:AAPL opened at $152.95 on Tuesday. The stock’s fifty day simple moving average is $143.05 and its 200-day simple moving average is $157.67. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $2.48 trillion, a P/E ratio of 24.83, a P/E/G ratio of 2.00 and a beta of 1.19. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. The firm 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%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Equities research analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.
Apple announced that its board has initiated a stock 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 reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change 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 currently 14.94%.
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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