Apple Inc. (NASDAQ:AAPL) is BHK Investment Advisors LLC’s 8th Largest Position

BHK Investment Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,934 shares of the iPhone maker’s stock after selling 420 shares during the quarter. Apple makes up about 3.2% of BHK Investment Advisors LLC’s holdings, making the stock its 8th largest position. BHK Investment Advisors LLC’s holdings in Apple were worth $7,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. State Street Corp grew its position in shares of Apple by 1.8% in 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 boosted its stake 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 buying an additional 4,456,954 shares during the period. Norges Bank bought a new stake in Apple during the fourth quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. boosted its stake in Apple by 1.6% during the fourth 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 boosted its stake in Apple by 1.6% during the fourth 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. 57.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated 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 completion of the transaction, 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 through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly 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 Stock Performance

Shares of Apple stock opened at $163.62 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.63 trillion, a P/E ratio of 27.00, a P/E/G ratio of 2.16 and a beta of 1.23. The business has a fifty day simple moving average of $154.62 and a two-hundred day simple moving average of $157.27. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AAPL shares. The Goldman Sachs Group set a $139.00 price objective on Apple in a research note on Friday, July 29th. Barclays dropped their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research note on Monday, August 22nd. Wells Fargo & Company dropped their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.18.

About Apple

(Get Rating)

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.

Further Reading

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