Gateway Investment Advisers LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,276,841 shares of the iPhone maker’s stock after buying an additional 85,998 shares during the quarter. Apple makes up approximately 7.4% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its largest position. Gateway Investment Advisers LLC’s holdings in Apple were worth $746,779,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC raised its stake in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after purchasing an additional 4,456,954 shares during the last quarter. Norges Bank acquired a new position in Apple in the 4th quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. raised its stake in Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after purchasing an additional 1,273,148 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Apple by 5.1% in the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after buying an additional 3,096,696 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on AAPL shares. StockNews.com started coverage on Apple in a report on Thursday, March 31st. They issued a “hold” rating for the company. Fundamental Research dropped their target price on Apple from $179.32 to $175.24 and set an “average” rating for the company in a report on Friday, May 6th. Piper Sandler dropped their target price on Apple from $200.00 to $195.00 in a report on Friday, April 29th. Rosenblatt Securities lowered their price target on Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a report on Monday, May 2nd. Finally, Barclays set a $167.00 price target on Apple in a report on Tuesday, June 7th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.64.
AAPL stock opened at $138.93 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a market capitalization of $2.25 trillion, a P/E ratio of 22.55, a P/E/G ratio of 1.86 and a beta of 1.20. The business’s 50-day moving average is $145.41 and its two-hundred day moving average is $161.07. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. During the same quarter last year, the company earned $1.40 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 6.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.
Apple declared that its board has initiated a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, SVP Deirdre O’brien sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $22,475,583.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 105,901 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the transaction, the chief operating officer now owns 489,662 shares in the company, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. Insiders have sold a total of 168,099 shares of company stock worth $29,376,711 in the last three months. Corporate insiders own 0.06% of the company’s stock.
Apple Profile (Get Rating)
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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