Single Point Partners LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,758 shares of the iPhone maker’s stock after buying an additional 598 shares during the quarter. Apple comprises 1.0% of Single Point Partners LLC’s holdings, making the stock its 22nd largest position. Single Point Partners LLC’s holdings in Apple were worth $3,799,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its position 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 buying an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC lifted its position 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 buying an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new position in Apple during the fourth quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position 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 buying an additional 3,096,696 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Apple Stock Up 3.8 %
Shares of NASDAQ AAPL 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 company has a market capitalization 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 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 of $145.58 and a two-hundred day moving average of $157.20.
Apple declared that its board has initiated a stock repurchase plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire 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.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given 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 dividend payout ratio (DPR) is 15.18%.
Analyst Ratings Changes
AAPL has been the subject of several recent analyst reports. KeyCorp raised their target price on Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group set a $139.00 target price on Apple in a research note on Friday, July 29th. Oppenheimer reissued an “outperform” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Sanford C. Bernstein set a $170.00 target price on Apple in a research note on Monday, May 2nd. Finally, Credit Suisse Group set a $166.00 target price on Apple in a research note on Friday, July 29th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.21.
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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