A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth $25,228,507,000. State Street Corp lifted its position 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 worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Apple during the fourth quarter worth $1,461,735,000. Capital Research Global Investors raised its position in shares of Apple by 38.1% during the fourth 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 lifted its position in shares of Apple by 41.8% during the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after purchasing an additional 6,154,422 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
Apple Stock Performance
AAPL stock opened at $165.35 on Friday. The company has a market capitalization of $2.66 trillion, a P/E ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23. The company has a 50-day simple moving average of $146.34 and a 200-day simple moving average of $157.12. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. 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 issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating 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 the consensus estimate of $82.97 billion. During the same period in the previous year, the company earned $1.30 EPS. Apple’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s payout ratio is 15.18%.
Apple announced that its board has initiated a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
Wall Street Analysts Weigh In
A number of research analysts have recently commented on AAPL shares. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research note on Monday, July 25th. Citigroup lifted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research note on Friday, July 29th. Finally, set a $175.00 price target on shares of Apple in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.27.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate 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 including AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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