Segment Wealth Management LLC Has $26.17 Million Stake in Apple Inc. (NASDAQ:AAPL)

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Segment Wealth Management LLC grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.4% in the first quarter, Holdings Channel.com reports. The fund owned 149,849 shares of the iPhone maker’s stock after buying an additional 2,082 shares during the period. Apple makes up 2.7% of Segment Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Segment Wealth Management LLC’s holdings in Apple were worth $26,165,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the period. Geode Capital Management LLC lifted its position in shares of Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after buying an additional 4,456,954 shares during the period. Norges Bank bought a new position in shares of Apple during the 4th quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after buying an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after buying an additional 3,096,696 shares during the period. Institutional investors own 57.98% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AAPL shares. The Goldman Sachs Group set a $130.00 target price on Apple in a research report on Tuesday, July 19th. Deutsche Bank Rese… set a $210.00 price objective on Apple in a research report on Friday, April 8th. Barclays cut their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. KeyCorp cut their price objective on Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Finally, Evercore ISI cut their price objective on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, June 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $182.73.

Apple Stock Performance

AAPL stock opened at $154.09 on Friday. The business’s 50-day moving average price is $142.90 and its two-hundred day moving average price is $157.91. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The firm has a market cap of $2.49 trillion, a PE ratio of 25.01, a P/E/G ratio of 2.01 and a beta of 1.19. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The company 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 quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.09 earnings per share for the current year.

Apple announced that its board has initiated a stock repurchase 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 typically a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. Apple’s payout ratio is 14.94%.

Apple Profile

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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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