VeraBank N.A. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,020 shares of the iPhone maker’s stock after selling 1,346 shares during the quarter. Apple comprises about 6.4% of VeraBank N.A.’s portfolio, making the stock its 2nd biggest position. VeraBank N.A.’s holdings in Apple were worth $12,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. State Street Corp grew 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 valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC grew its holdings in shares of Apple by 1.7% in 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 period. Norges Bank bought a new stake in shares of Apple in the 4th quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $14,131,710,000 after buying an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC lifted 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 acquiring an additional 3,096,696 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on AAPL. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research report on Monday, July 25th. Raymond James lowered their price objective on shares of Apple from $190.00 to $185.00 and set a “maintains” rating for the company in a research report on Friday, July 29th. Oppenheimer restated an “outperform” rating and set a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Barclays upped their target price on shares of Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a research note on Friday, July 29th. Finally, Sanford C. Bernstein set a $170.00 price objective on Apple in a report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.16.
Apple Trading Down 0.9 %
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.08 earnings per share for the current year.
Apple declared that its board has authorized a stock buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Apple Announces Dividend
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 paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s payout ratio is 15.18%.
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.
- Get a free copy of the StockNews.com research report on Apple (AAPL)
- Amazon Names Itself A Top Stock Of Q3 Contender
- 3 Health Care Stocks in Great Financial Health
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Market Fundamentals Drive Results For The Williams Companies
- Are Baidu’s Delisting Fears a Good Entry for New Investors?
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.