Apple Inc. (NASDAQ:AAPL) is Armstrong Henry H Associates Inc.’s 10th Largest Position

Armstrong Henry H Associates Inc. increased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,928 shares of the iPhone maker’s stock after purchasing an additional 704 shares during the period. Apple makes up about 1.3% of Armstrong Henry H Associates Inc.’s holdings, making the stock its 10th biggest holding. Armstrong Henry H Associates Inc.’s holdings in Apple were worth $12,210,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in 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 buying an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC raised its holdings in Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares during the last quarter. Norges Bank bought a new stake in Apple during the 4th quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. raised its holdings in Apple by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after buying an additional 1,273,148 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after buying an additional 3,096,696 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $161.51 on Tuesday. The firm’s 50-day moving average price is $144.68 and its 200-day moving average price is $157.12. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.61 trillion, a PE ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly 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. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. As a group, analysts anticipate that Apple Inc. will post 6.08 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The business 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is presently 15.18%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. Rosenblatt Securities decreased their price objective on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday. Bank of America decreased their price objective on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a report on Monday. Morgan Stanley decreased their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, The Goldman Sachs Group set a $139.00 price objective on shares of Apple in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target 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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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