Power Corp of Canada Has $19.41 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Power Corp of Canada grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 15.1% in the 3rd quarter, Holdings Channel reports. The fund owned 140,469 shares of the iPhone maker’s stock after purchasing an additional 18,469 shares during the quarter. Apple accounts for 2.9% of Power Corp of Canada’s portfolio, making the stock its 6th biggest position. Power Corp of Canada’s holdings in Apple were worth $19,413,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Robinson Value Management Ltd. bought a new position in shares of Apple during the third quarter worth about $28,000. Hanseatic Management Services Inc. grew its holdings in shares of Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares in the last quarter. Bluestem Financial Advisors LLC grew its holdings in shares of Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after buying an additional 229,929 shares in the last quarter. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new position in shares of Apple during the second quarter worth about $55,000. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Cowen decreased their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. National Bank Financial decreased their price target on Apple to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. StockNews.com initiated coverage on Apple in a research note on Thursday. They issued a “hold” rating for the company. Morgan Stanley raised their price target on Apple from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Finally, JPMorgan Chase & Co. set a $175.00 price target on Apple in a research note on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.24.

Apple Stock Performance

NASDAQ:AAPL opened at $152.99 on Thursday. The stock has a market cap of $2.42 trillion, a P/E ratio of 25.97, a PEG ratio of 1.97 and a beta of 1.30. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. The stock has a 50 day simple moving average of $145.51 and a 200 day simple moving average of $145.38. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion during the quarter, compared to analyst estimates of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. Apple’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. Research analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a $0.23 dividend. The ex-dividend date was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s payout ratio is currently 15.62%.

Apple Company Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.