Forsta AP Fonden trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,617,900 shares of the iPhone maker’s stock after selling 217,400 shares during the quarter. Apple accounts for about 7.2% of Forsta AP Fonden’s holdings, making the stock its largest position. Forsta AP Fonden’s holdings in Apple were worth $631,722,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in AAPL. Elk River Wealth Management LLC raised its position in shares of Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares in the last quarter. Piscataqua Savings Bank raised its holdings in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after acquiring an additional 684 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Apple in the 1st quarter valued at about $171,000. Primoris Wealth Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at about $4,282,000. Finally, Chico Wealth RIA purchased a new position in shares of Apple during the first quarter worth about $7,794,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Apple Trading Down 1.4 %
NASDAQ:AAPL opened at $155.81 on Friday. The stock has a market cap of $2.50 trillion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.09 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average price is $156.11 and its 200-day moving average price is $157.00. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is presently 15.18%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AAPL. UBS Group set a $185.00 target price on shares of Apple in a research note on Thursday, July 21st. Itau BBA Securities assumed coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Citigroup increased their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research report on Monday, August 29th. Finally, Wedbush increased their target price on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.00.
Insider Transactions at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the 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 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 can be accessed through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
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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