AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,139,098 shares of the iPhone maker’s stock after selling 103,158 shares during the period. Apple accounts for about 8.1% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 2nd biggest holding. AEGON ASSET MANAGEMENT UK Plc’s holdings in Apple were worth $429,303,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd raised its position in Apple by 145.8% during the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock worth $114,214,000 after buying an additional 381,507 shares during the last quarter. Confluence Wealth Services Inc. acquired a new position in Apple during the fourth quarter valued at $28,555,000. Monograph Wealth Advisors LLC purchased a new stake in Apple in the fourth quarter valued at $31,192,000. Curran Financial Partners LLC boosted its holdings in Apple by 16.7% in the fourth quarter. Curran Financial Partners LLC now owns 16,216 shares of the iPhone maker’s stock valued at $2,880,000 after purchasing an additional 2,322 shares during the last quarter. Finally, Regal Investment Advisors LLC boosted its holdings in Apple by 1.8% in the fourth quarter. Regal Investment Advisors LLC now owns 139,432 shares of the iPhone maker’s stock valued at $24,759,000 after purchasing an additional 2,431 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Barclays set a $169.00 price target on shares of Apple in a report on Wednesday, September 14th. Itau BBA Securities assumed coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a report on Monday, September 12th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Monday, September 12th. Finally, Bank of America lowered their price target on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.
Apple Stock Down 1.5 %
AAPL stock opened at $150.43 on Friday. The company has a market cap of $2.42 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.98 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 Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a 50-day moving average of $160.32 and a two-hundred day moving average of $155.73.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.18%.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated 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 in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
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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