Apple Inc. (NASDAQ:AAPL) Shares Acquired by Brand Asset Management Group Inc.

Brand Asset Management Group Inc. grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 26.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,777 shares of the iPhone maker’s stock after buying an additional 1,632 shares during the period. Brand Asset Management Group Inc.’s holdings in Apple were worth $1,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AAPL. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at about $25,228,507,000. State Street Corp grew its holdings in shares of Apple by 1.8% in 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. Allspring Global Investments Holdings LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $1,461,735,000. Capital Research Global Investors grew its holdings in shares of Apple by 38.1% in the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after purchasing an additional 8,154,171 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Apple by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after purchasing an additional 6,154,422 shares during the period. 57.98% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 0.1 %

AAPL stock opened at $165.35 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company’s 50 day moving average is $146.34 and its two-hundred day moving average is $157.12. The stock has a market cap of $2.66 trillion, a P/E ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share 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 company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is currently 15.18%.

Apple declared that its Board of Directors has initiated a share repurchase 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 purchase 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.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group set a $185.00 price objective on shares of Apple in a report on Thursday, July 21st. Credit Suisse Group set a $166.00 price objective on shares of Apple in a report on Friday, July 29th. Citigroup increased their target price on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. The Goldman Sachs Group set a $139.00 target price on shares of Apple in a research note on Friday, July 29th. Finally, Barclays lowered their target price on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.27.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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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