SCHRODERS IS Ltd Invests $3.15 Million in Apple Inc. (NASDAQ:AAPL)

SCHRODERS IS Ltd purchased a new stake in Apple Inc. (NASDAQ:AAPLGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,011 shares of the iPhone maker’s stock, valued at approximately $3,146,000. Apple makes up about 0.7% of SCHRODERS IS Ltd’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Joseph Group Capital Management bought a new stake in Apple during the fourth quarter worth $1,631,000. Cardinal Capital Management Inc. grew its stake in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $41,000. St. James Investment Advisors LLC purchased a new position in Apple during the fourth quarter worth about $57,000. Finally, Emerson Wealth LLC grew its position in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares in the last quarter. 57.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Citigroup boosted their target price on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Bank of America reduced their price objective on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Wells Fargo & Company cut their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a report on Monday, May 2nd. Finally, Credit Suisse Group set a $166.00 target price on shares of Apple in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.21.

Apple Stock Up 3.8 %

AAPL stock opened at $166.13 on Thursday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market cap of $2.69 trillion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.09 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average is $145.58 and its 200 day moving average is $157.20.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is currently 15.18%.

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

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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