Bridges Investment Management Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,209,833 shares of the iPhone maker’s stock after selling 249 shares during the period. Apple accounts for approximately 6.0% of Bridges Investment Management Inc.’s portfolio, making the stock its 2nd largest holding. Bridges Investment Management Inc.’s holdings in Apple were worth $165,408,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. State Street Corp raised 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 purchasing an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC raised its position in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after purchasing an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $25,228,507,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after buying an additional 1,155,915 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of a number of recent research reports. set a $175.00 price objective on Apple in a research note on Friday, July 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. Monness Crespi & Hardt initiated coverage on Apple in a research note on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective on the stock. Wedbush raised their price objective on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Finally, Barclays set a $169.00 target price on Apple in a research note on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $181.68.
Apple Price Performance
Shares of NASDAQ AAPL opened at $150.43 on Friday. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The firm has a market cap of $2.42 trillion, a P/E ratio of 24.82, a PEG ratio of 1.99 and a beta of 1.23. The company has a 50 day moving average of $160.32 and a 200 day moving average of $155.78. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.1 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Insiders Place Their Bets
In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
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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