Long Run Wealth Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,095 shares of the iPhone maker’s stock after selling 1,457 shares during the period. Apple accounts for approximately 1.8% of Long Run Wealth Advisors LLC’s portfolio, making the stock its 16th largest position. Long Run Wealth Advisors LLC’s holdings in Apple were worth $5,252,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. State Street Corp raised its holdings in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC raised its holdings in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new position in Apple during the fourth quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. raised its holdings in Apple by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after purchasing an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Apple by 5.1% during the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after purchasing an additional 3,096,696 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.
Apple Price Performance
Shares of AAPL stock opened at $160.01 on Wednesday. The firm has a market cap of $2.59 trillion, a P/E ratio of 26.40, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The firm has a fifty day moving average of $145.07 and a two-hundred day moving average of $157.14.
Apple declared that its board has approved a stock buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Apple Dividend Announcement
The firm 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AAPL shares. set a $175.00 target price on shares of Apple in a report on Friday, July 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Rosenblatt Securities lowered their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday, July 25th. Finally, Fundamental Research decreased their target price on shares of Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.16.
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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