Clearstead Advisors LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 350,143 shares of the iPhone maker’s stock after acquiring an additional 12,057 shares during the quarter. Apple comprises about 4.1% of Clearstead Advisors LLC’s portfolio, making the stock its 2nd largest position. Clearstead Advisors LLC’s holdings in Apple were worth $61,139,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. State Street Corp lifted its holdings in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares during the period. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at about $25,228,507,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after buying an additional 1,273,148 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Apple by 1.6% in the 4th quarter. Parametric Portfolio Associates LLC now owns 55,610,954 shares of the iPhone maker’s stock valued at $9,874,837,000 after buying an additional 871,249 shares during the period. Institutional investors and hedge funds own 57.62% of the company’s stock.
Analyst Ratings Changes
AAPL has been the subject of several analyst reports. Fundamental Research set a $177.07 price objective on Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Piper Sandler cut their price target on Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Credit Suisse Group upgraded Apple from a “neutral” rating to an “outperform” rating and set a $201.00 price target for the company in a research note on Tuesday, August 16th. Finally, Rosenblatt Securities cut their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $181.18.
Apple Trading Down 2.3 %
AAPL opened at $167.57 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The business’s 50 day moving average price is $151.85 and its 200 day moving average price is $157.22. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a market capitalization of $2.69 trillion, a PE ratio of 27.65, a P/E/G ratio of 2.22 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 6.1 EPS for the current year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.
Apple declared that its board has approved a stock repurchase plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
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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