LGT Fund Management Co Ltd. Acquires 53,393 Shares of Apple Inc. (NASDAQ:AAPL)

LGT Fund Management Co Ltd. boosted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 348,010 shares of the iPhone maker’s stock after buying an additional 53,393 shares during the quarter. Apple accounts for about 7.0% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 2nd largest position. LGT Fund Management Co Ltd.’s holdings in Apple were worth $47,580,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC grew its position 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 worth $149,333,000 after purchasing an additional 25,989,570 shares in the last quarter. Capital Research Global Investors grew its position in Apple by 31.7% during the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after purchasing an additional 9,354,484 shares in the last quarter. Vanguard Group Inc. grew its position in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Swiss National Bank grew its position in Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares in the last quarter. Finally, CFS Investment Advisory Services LLC grew its position in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Trading Down 2.2 %

Shares of AAPL opened at $148.01 on Tuesday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.93 and a beta of 1.25. The stock’s 50-day moving average price is $146.78 and its 200 day moving average price is $149.71.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Fundamental Research boosted their price target on shares of Apple to $168.50 and gave the company a “buy” rating in a report on Tuesday, November 8th. Itaú Unibanco began coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Citigroup reissued a “buy” rating and issued a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and cut their price objective for the company from $189.00 to $160.00 in a research report on Friday, September 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $139.00 target price on shares of Apple in a research report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $176.26.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 360,651 shares of company stock valued at $53,703,645. 0.06% of the stock is currently 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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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