Todd Asset Management LLC Has $42.28 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Todd Asset Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,125 shares of the iPhone maker’s stock after selling 3,532 shares during the quarter. Apple makes up about 0.9% of Todd Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Todd Asset Management LLC’s holdings in Apple were worth $42,277,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Eukles Asset Management grew its holdings in shares of Apple by 0.7% during the 1st quarter. Eukles Asset Management now owns 51,273 shares of the iPhone maker’s stock worth $8,953,000 after purchasing an additional 373 shares in the last quarter. Safir Wealth Advisors LLC acquired a new stake in shares of Apple during the 1st quarter worth approximately $210,000. Winning Points Advisors LLC grew 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 purchasing an additional 141,218 shares in the last quarter. Rocky Mountain Advisers LLC grew 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 purchasing an additional 301 shares in the last quarter. Finally, ARGI Investment Services LLC grew 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 purchasing an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was 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 directly 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 accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. UBS Group set a $185.00 price objective on Apple in a report on Thursday, July 21st. Wells Fargo & Company cut their target price on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Bank of America cut their target price on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Finally, Credit Suisse Group set a $166.00 target price on Apple in a research report on Friday. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.04.

Apple Stock Up 3.3 %

NASDAQ:AAPL 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 current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The stock has a market cap of $2.63 trillion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19. The stock has a 50-day moving average price of $144.31 and a two-hundred day moving average price of $157.20.

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

Apple announced that its board has initiated a stock repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

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

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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