Van ECK Associates Corp Has $96.73 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Van ECK Associates Corp decreased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,471 shares of the iPhone maker’s stock after selling 41,821 shares during the quarter. Van ECK Associates Corp’s holdings in Apple were worth $96,725,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Aaron Wealth Advisors LLC boosted its holdings 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 purchasing an additional 25,989,570 shares during the last quarter. Capital Research Global Investors lifted its stake in Apple by 31.7% in the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after acquiring an additional 9,354,484 shares during the last quarter. Vanguard Group Inc. lifted its stake in Apple by 0.7% in 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 acquiring an additional 8,734,393 shares during the last quarter. Swiss National Bank lifted its stake in Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after acquiring an additional 8,230,300 shares during the last quarter. Finally, CFS Investment Advisory Services LLC lifted its stake in Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Trading Up 1.5 %

Shares of Apple stock opened at $150.18 on Wednesday. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.93 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The firm’s 50-day moving average price is $146.70 and its two-hundred day moving average price is $149.66.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. On average, analysts forecast that Apple Inc. will post 6.26 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s payout ratio is currently 15.06%.

Insider Activity

In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 360,651 shares of company stock worth $53,703,645. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Monness Crespi & Hardt assumed coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 price target for the company. Credit Suisse Group set a $184.00 price target on shares of Apple in a research note on Thursday, November 17th. Robert W. Baird cut their price target on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Finally, Itaú Unibanco initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $176.26.

About Apple

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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