Apple Inc. (NASDAQ:AAPL) Stake Lowered by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 19.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,938 shares of the iPhone maker’s stock after selling 5,635 shares during the period. Thornburg Investment Management Inc.’s holdings in Apple were worth $4,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Apple during the fourth quarter valued at about $25,228,507,000. Aaron Wealth Advisors LLC grew its stake in Apple by 30,391.8% during the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares during the last quarter. State Street Corp grew its stake 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 during the last quarter. Swiss National Bank grew its stake in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after buying an additional 8,230,300 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Apple by 38.1% during the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after purchasing an additional 8,154,171 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Wedbush increased their price objective on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. KeyCorp increased their price objective on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. Bank of America decreased their price objective on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Finally, Loop Capital decreased their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the 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 completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $155.96 on Thursday. The business has a 50-day moving average price of $157.75 and a 200 day moving average price of $156.51. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. 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 company has a market capitalization of $2.51 trillion, a P/E ratio of 25.74, a PEG ratio of 2.02 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results 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 return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Apple Profile

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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