Apple Inc. (NASDAQ:AAPL) Shares Sold by Flossbach Von Storch AG

Flossbach Von Storch AG trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,867,531 shares of the iPhone maker’s stock after selling 69,751 shares during the quarter. Apple makes up about 2.4% of Flossbach Von Storch AG’s holdings, making the stock its 21st biggest position. Flossbach Von Storch AG’s holdings in Apple were worth $632,438,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Apple by 0.7% in 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 buying an additional 8,734,393 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after purchasing an additional 1,155,915 shares in the last quarter. Swiss National Bank lifted its holdings in Apple by 13.1% in the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after purchasing an additional 8,230,300 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Apple by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 59,874,884 shares of the iPhone maker’s stock valued at $7,779,544,000 after purchasing an additional 698,686 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Apple by 0.9% in the 1st quarter. Jennison Associates LLC now owns 48,826,270 shares of the iPhone maker’s stock valued at $8,525,555,000 after purchasing an additional 424,839 shares in the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Jeffrey E. Williams sold 187,730 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 439,529 shares of company stock valued at $71,703,657. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, May 5th. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Apple in a report on Monday, April 17th. Raymond James cut their price target on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Evercore ISI reiterated an “outperform” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, February 6th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Apple from $174.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $174.74.

Apple Trading Up 0.1 %

Shares of AAPL opened at $175.16 on Monday. The business’s 50-day moving average price is $164.84 and its 200 day moving average price is $150.62. The stock has a market capitalization of $2.76 trillion, a P/E ratio of 29.74, a P/E/G ratio of 2.34 and a beta of 1.29. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $176.39. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56.

Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The company had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Apple Inc. will post 5.99 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 4th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a $0.24 dividend. This is a boost from Apple’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s payout ratio is presently 16.30%.

Apple Company Profile

(Get Rating)

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.