Wrapmanager Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,780 shares of the iPhone maker’s stock after purchasing an additional 1,314 shares during the quarter. Apple makes up 1.0% of Wrapmanager Inc.’s holdings, making the stock its 23rd biggest position. Wrapmanager Inc.’s holdings in Apple were worth $3,090,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. boosted 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 during the period. Swiss National Bank grew its position in shares of 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. Fisher Asset Management LLC increased its holdings in shares of Apple by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 59,874,884 shares of the iPhone maker’s stock worth $7,779,544,000 after purchasing an additional 698,686 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Apple by 0.9% in the first quarter. Jennison Associates LLC now owns 48,826,270 shares of the iPhone maker’s stock valued at $8,525,555,000 after buying an additional 424,839 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.
Insiders Place Their Bets
In other 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 transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Deirdre O’brien sold 43,622 shares of Apple stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the completion of the transaction, the senior vice president now directly owns 136,444 shares in the company, valued at $22,569,202.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now owns 489,816 shares in the company, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 439,529 shares of company stock worth $71,703,657. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Apple had a net margin of 24.49% and a return on equity of 165.72%. The business had revenue of $94.84 billion during the quarter, compared to analysts’ expectations of $92.84 billion. During the same period last year, the company posted $1.52 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 5.99 earnings per share for the current year.
Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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 dividend of $0.24 per share. This is an increase from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Friday, May 12th. Apple’s dividend payout ratio is 16.30%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on AAPL shares. The Goldman Sachs Group assumed coverage on Apple in a research report on Sunday, March 5th. They set a “buy” rating and a $199.00 price target on the stock. Rosenblatt Securities raised their price target on Apple from $173.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. UBS Group set a $180.00 price objective on shares of Apple in a research report on Monday, April 3rd. Piper Sandler reduced their price objective on shares of Apple from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, May 5th. Finally, KeyCorp boosted their target price on shares of Apple from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $174.74.
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.
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