Mizuho Securities USA LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Mizuho Securities USA LLC reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 71.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,584 shares of the iPhone maker’s stock after selling 8,778 shares during the quarter. Mizuho Securities USA LLC’s holdings in Apple were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Norges Bank purchased a new position in shares of Apple in the 4th quarter worth about $25,228,507,000. State Street Corp lifted its stake 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 acquiring an additional 10,951,705 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Apple in the 4th quarter valued at about $1,461,735,000. Capital Research Global Investors lifted its stake in shares of Apple by 38.1% in 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 acquiring an additional 8,154,171 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Apple by 41.8% in 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 acquiring an additional 6,154,422 shares during the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL opened at $162.51 on Monday. The business’s fifty day simple moving average is $144.31 and its two-hundred day simple moving average is $157.20. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market cap of $2.63 trillion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19.

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, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 EPS. Research analysts anticipate that Apple Inc. will post 6.09 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s payout ratio is 14.94%.

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

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent research reports. Citigroup boosted their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday. Raymond James lowered their target price on Apple from $190.00 to $185.00 and set a “maintains” rating for the company in a research note on Friday. Itau BBA Securities initiated coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. UBS Group set a $185.00 price target on Apple in a research report on Thursday, July 21st. Finally, Piper Sandler lowered their price target on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.04.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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