Apple Inc. (NASDAQ:AAPL) is Eukles Asset Management’s Largest Position

Eukles Asset Management boosted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,273 shares of the iPhone maker’s stock after buying an additional 373 shares during the period. Apple makes up 4.9% of Eukles Asset Management’s investment portfolio, making the stock its biggest holding. Eukles Asset Management’s holdings in Apple were worth $8,953,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AAPL. Norges Bank purchased a new position in Apple in the 4th quarter valued at approximately $25,228,507,000. State Street Corp grew 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 valued at $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Apple during the 4th quarter valued at $1,461,735,000. Capital Research Global Investors grew its position in shares of Apple by 38.1% during the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after purchasing an additional 8,154,171 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Apple by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after purchasing an additional 6,154,422 shares in the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were 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 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 available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $162.51 on Monday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a market cap of $2.63 trillion, a P/E ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19. The firm has a 50-day moving average of $144.31 and a 200 day moving average of $157.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. Apple’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.09 EPS for the current year.

Apple announced that its board has approved a share buyback plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 14.94%.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. KeyCorp reduced their price target on shares of Apple from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research report on Monday, May 2nd. Bank of America reduced their price target on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Loop Capital cut their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Finally, Wells Fargo & Company cut their target price on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $179.04.

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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