Siemens Fonds Invest GmbH cut its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,868 shares of the iPhone maker’s stock after selling 14,336 shares during the quarter. Apple comprises approximately 7.4% of Siemens Fonds Invest GmbH’s holdings, making the stock its biggest position. Siemens Fonds Invest GmbH’s holdings in Apple were worth $90,600,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Joseph Group Capital Management bought a new position in shares of Apple in the fourth quarter valued at about $1,631,000. Cardinal Capital Management Inc. raised its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC bought a new position in Apple in the 4th quarter valued at about $41,000. Emerson Wealth LLC raised its holdings in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the period. Finally, Econ Financial Services Corp raised its holdings in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares during the period. 57.72% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction 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 completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Apple Price Performance
Apple (NASDAQ:AAPL – Get 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 company 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 business earned $1.30 earnings per share. Apple’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.
Analysts Set New Price Targets
AAPL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a report on Monday, August 1st. Rosenblatt Securities lowered their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Morgan Stanley lowered their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Itau BBA Securities began coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 target price on shares of Apple in a report on Thursday. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.31.
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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