Pacer Advisors Inc. cut its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 29.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 829,965 shares of the iPhone maker’s stock after selling 341,743 shares during the period. Apple accounts for 1.2% of Pacer Advisors Inc.’s holdings, making the stock its 6th largest position. Pacer Advisors Inc.’s holdings in Apple were worth $144,920,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of AAPL. Segall Bryant & Hamill LLC boosted its stake in shares of Apple by 2.4% in the third quarter. Segall Bryant & Hamill LLC now owns 1,293,356 shares of the iPhone maker’s stock worth $183,007,000 after acquiring an additional 30,049 shares during the last quarter. New World Advisors LLC boosted its stake in Apple by 8.0% during the third quarter. New World Advisors LLC now owns 23,520 shares of the iPhone maker’s stock worth $3,497,000 after buying an additional 1,739 shares during the last quarter. EagleClaw Capital Managment LLC boosted its stake in Apple by 1.9% during the third quarter. EagleClaw Capital Managment LLC now owns 157,372 shares of the iPhone maker’s stock worth $22,273,000 after buying an additional 2,926 shares during the last quarter. Legacy Wealth Planning LLC boosted its stake in Apple by 9.6% during the third quarter. Legacy Wealth Planning LLC now owns 33,659 shares of the iPhone maker’s stock worth $4,763,000 after buying an additional 2,954 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Apple during the third quarter worth $29,000. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on AAPL shares. Fundamental Research lowered their price objective on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research note on Friday, May 6th. StockNews.com began coverage on Apple in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Barclays set a $167.00 target price on Apple in a research report on Tuesday, June 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Apple from $200.00 to $175.00 in a research report on Tuesday, June 14th. Finally, The Goldman Sachs Group set a $157.00 target price on Apple in a research report on Friday, June 3rd. Nine investment 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. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $186.55.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. Equities research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. This is a boost from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, May 6th. Apple’s dividend payout ratio is currently 14.94%.
Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, COO Jeffrey E. Williams sold 105,901 shares of the company’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the completion of the sale, the chief operating officer now directly owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.77, for a total value of $5,190,528.46. Following the completion of the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $24,228,273.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,099 shares of company stock valued at $29,376,711. Insiders own 0.06% of the company’s stock.
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.
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