Bremer Bank National Association cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,987 shares of the iPhone maker’s stock after selling 2,885 shares during the period. Apple accounts for approximately 3.4% of Bremer Bank National Association’s investment portfolio, making the stock its 4th biggest holding. Bremer Bank National Association’s holdings in Apple were worth $17,908,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in 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 increased its stake in Apple by 30,391.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after purchasing an additional 25,989,570 shares in the last quarter. State Street Corp raised 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 worth $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Apple by 31.7% during the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after buying an additional 9,354,484 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research reports. Itau BBA Securities assumed coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Barclays set a $169.00 target price on Apple in a report on Wednesday, September 14th. KeyCorp increased their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a report on Monday, August 1st. Finally, Credit Suisse Group set a $201.00 price objective on shares of Apple in a research note on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.52.
Apple Stock Up 2.5 %
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. Equities analysts forecast that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Insider Transactions at Apple
In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were 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 directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Apple Company Profile
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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