Gs Investments Inc. cut its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 64,640 shares of the iPhone maker’s stock after selling 722 shares during the quarter. Apple comprises 6.0% of Gs Investments Inc.’s holdings, making the stock its largest holding. Gs Investments Inc.’s holdings in Apple were worth $10,529,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of AAPL. Norges Bank purchased a new position in Apple during the 4th quarter valued at about $25,228,507,000. State Street Corp increased its stake in shares of 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 purchasing an additional 10,951,705 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $1,461,735,000. Capital Research Global Investors boosted its position in shares of Apple by 38.1% in the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after purchasing an additional 8,154,171 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Apple by 41.8% in the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $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 Stock Up 3.4 %
Shares of AAPL stock opened at $156.79 on Thursday. The company’s fifty day simple moving average is $143.41 and its two-hundred day simple moving average is $157.62. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The stock has a market cap of $2.54 trillion, a P/E ratio of 25.45, a PEG ratio of 1.98 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.
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 company had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. Analysts predict that Apple Inc. will post 6.09 EPS for the current fiscal year.
Apple declared that its board has approved a stock buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of several analyst reports. UBS Group set a $185.00 target price on Apple in a report on Thursday, July 21st. Piper Sandler cut their price objective on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Rosenblatt Securities cut their price target on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a report on Monday, May 2nd. Finally, Itaú Unibanco initiated coverage on shares of Apple in a report on Tuesday. They issued an “underperform” rating and a $136.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.
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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