AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,242,256 shares of the iPhone maker’s stock after selling 199,490 shares during the quarter. Apple comprises approximately 8.4% of AEGON ASSET MANAGEMENT UK Plc’s holdings, making the stock its 2nd largest position. AEGON ASSET MANAGEMENT UK Plc’s holdings in Apple were worth $566,325,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Daniels&Tansey LLP grew its holdings in Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after buying an additional 60 shares in the last quarter. Donald L. Hagan LLC grew its holdings in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L grew its holdings in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after buying an additional 62 shares in the last quarter. Opus Capital Group LLC grew its holdings in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after buying an additional 63 shares in the last quarter. Finally, Norwood Financial Corp grew its holdings in Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after buying an additional 65 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
AAPL stock opened at $166.13 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The business has a 50-day moving average price of $145.58 and a 200 day moving average price of $157.20. The company has a market capitalization of $2.69 trillion, a P/E ratio of 27.41, a PEG ratio of 2.09 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s payout ratio is currently 15.18%.
Apple announced that its board has authorized a stock repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Morgan Stanley cut 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. Itaú Unibanco initiated coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Citigroup raised their target price on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Evercore ISI raised their target price on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Finally, set a $175.00 target price on shares of Apple in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $179.21.
Apple Company Profile
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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