Massachusetts Financial Services Co. MA Has $5.64 Billion Stock Position in Apple Inc. (NASDAQ:AAPL)

Massachusetts Financial Services Co. MA decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,278,570 shares of the iPhone maker’s stock after selling 810,986 shares during the quarter. Apple accounts for about 1.8% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 3rd biggest position. Massachusetts Financial Services Co. MA owned about 0.19% of Apple worth $5,637,003,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wyrmwood Management LLC boosted its stake in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC boosted its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. PayPay Securities Corp increased its stake in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the period. Cordant Inc. raised its position in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Apple during the fourth quarter worth about $111,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AAPL shares. Morgan Stanley reiterated an “overweight” rating and issued a $216.00 price objective on shares of Apple in a research note on Tuesday. Wedbush lifted their price objective on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Bank of America reaffirmed a “buy” rating and issued a $230.00 target price on shares of Apple in a report on Wednesday, May 29th. UBS Group reissued a “hold” rating and set a $190.00 price target on shares of Apple in a report on Monday, March 25th. Finally, Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $162.00 to $188.00 in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty 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 has an average rating of “Moderate Buy” and an average price target of $205.59.

Get Our Latest Research Report on Apple

Apple Stock Up 0.8 %

Apple stock opened at $195.87 on Thursday. The firm has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.36 and a beta of 1.25. The company’s 50 day simple moving average is $178.94 and its 200 day simple moving average is $183.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.57 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. Apple’s payout ratio is currently 15.55%.

Apple declared that its board has approved a share buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. In the last three months, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by corporate insiders.

Apple Company Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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