Ninety One SA PTY Ltd grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 21.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,074 shares of the iPhone maker’s stock after acquiring an additional 7,243 shares during the period. Apple accounts for approximately 2.0% of Ninety One SA PTY Ltd’s holdings, making the stock its 10th largest position. Ninety One SA PTY Ltd’s holdings in Apple were worth $7,268,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Eukles Asset Management grew its position in Apple by 0.7% in the first quarter. Eukles Asset Management now owns 51,273 shares of the iPhone maker’s stock worth $8,953,000 after acquiring an additional 373 shares in the last quarter. Safir Wealth Advisors LLC bought a new stake in shares of Apple during the 1st quarter worth $210,000. Winning Points Advisors LLC boosted its holdings in shares of Apple by 278.8% during the 1st quarter. Winning Points Advisors LLC now owns 191,865 shares of the iPhone maker’s stock worth $33,512,000 after buying an additional 141,218 shares during the period. Rocky Mountain Advisers LLC boosted its holdings in shares of Apple by 5.1% during the 1st quarter. Rocky Mountain Advisers LLC now owns 6,227 shares of the iPhone maker’s stock worth $1,087,000 after buying an additional 301 shares during the period. Finally, ARGI Investment Services LLC boosted its holdings in shares of Apple by 1.0% during the 1st quarter. ARGI Investment Services LLC now owns 113,200 shares of the iPhone maker’s stock worth $19,766,000 after buying an additional 1,126 shares during the period. 57.98% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AAPL has been the subject of several recent analyst reports. Itau BBA Securities initiated coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Credit Suisse Group set a $166.00 price objective on shares of Apple in a report on Friday. Evercore ISI upped their price objective on shares of Apple from $180.00 to $185.00 in a report on Friday. Itaú Unibanco assumed coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Finally, Deutsche Bank Rese… set a $175.00 target price on shares of Apple in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $179.04.
Insiders Place Their Bets
Apple Stock Up 3.3 %
Shares of NASDAQ AAPL opened at $162.51 on Monday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The firm’s 50-day simple moving average is $144.31 and its 200 day simple moving average is $157.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The company has a market cap of $2.63 trillion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 26.41% and a return on equity of 152.88%. 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 prior year, the firm earned $1.30 earnings per share. Apple’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 6.09 earnings per share for the current fiscal year.
Apple Announces Dividend
The company 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is 14.94%.
Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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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