Synergy Asset Management LLC Buys 6,973 Shares of Apple Inc. (NASDAQ:AAPL)

Synergy Asset Management LLC raised its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,956 shares of the iPhone maker’s stock after buying an additional 6,973 shares during the period. Apple accounts for 4.9% of Synergy Asset Management LLC’s holdings, making the stock its 3rd largest holding. Synergy Asset Management LLC’s holdings in Apple were worth $20,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at $25,228,507,000. State Street Corp raised its stake 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 valued at $112,422,274,000 after acquiring an additional 10,951,705 shares during the last quarter. Capital Research Global Investors raised its stake 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 valued at $5,247,094,000 after acquiring an additional 8,154,171 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Apple by 114.9% during the first quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock valued at $167,539,000 after acquiring an additional 7,386,473 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake 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 valued at $3,705,275,000 after acquiring an additional 6,154,422 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAPL shares. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research note on Monday, May 2nd. UBS Group set a $185.00 target price on shares of Apple in a research note on Thursday, July 21st. Loop Capital lowered their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. KeyCorp lifted their target price on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Finally, Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.18.

Apple Stock Down 3.8 %

Shares of NASDAQ AAPL opened at $163.62 on Friday. The stock 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 company has a 50-day moving average price of $154.62 and a 200-day moving average price of $157.14. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,119,250.00. Following the completion of the sale, 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. 0.06% of the stock is owned by corporate insiders.

Apple Company Profile

(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.

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