Neo Ivy Capital Management Buys 350 Shares of Apple Inc. (NASDAQ:AAPL)
Several other hedge funds and other institutional investors have also modified their holdings of AAPL. State Street Corp boosted its stake in Apple by 279.3% in the third quarter. State Street Corp now owns 672,444,836 shares of the iPhone maker’s stock worth $77,875,836,000 after buying an additional 495,180,468 shares in the last quarter. Morgan Stanley boosted its stake in shares of Apple by 283.3% during the third quarter. Morgan Stanley now owns 124,613,848 shares of the iPhone maker’s stock valued at $14,431,530,000 after purchasing an additional 92,101,156 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Apple by 296.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 78,699,382 shares of the iPhone maker’s stock valued at $9,114,176,000 after purchasing an additional 58,823,499 shares during the period. Swiss National Bank boosted its stake in shares of Apple by 290.0% during the third quarter. Swiss National Bank now owns 67,699,096 shares of the iPhone maker’s stock valued at $7,840,232,000 after purchasing an additional 50,340,997 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Apple by 301.4% during the third quarter. UBS Asset Management Americas Inc. now owns 66,313,487 shares of the iPhone maker’s stock valued at $7,679,765,000 after purchasing an additional 49,792,917 shares during the period. 59.65% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on AAPL. Raymond James increased their price objective on Apple from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Wells Fargo & Company upgraded Apple to a “positive” rating in a report on Wednesday, October 14th. UBS Group set a $115.00 target price on Apple and gave the company a “neutral” rating in a report on Monday. Robert W. Baird upped their target price on Apple from $109.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. set a $150.00 target price on Apple and gave the company a “buy” rating in a report on Monday, November 16th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $117.35.
Apple stock opened at $131.97 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.36 and a quick ratio of 1.33. Apple Inc. has a one year low of $53.15 and a one year high of $137.98. The stock has a market capitalization of $2.24 trillion, a PE ratio of 40.48, a price-to-earnings-growth ratio of 2.83 and a beta of 1.30. The business’s fifty day moving average is $121.34 and its 200 day moving average is $110.69.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, November 3rd. The iPhone maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Apple had a return on equity of 75.15% and a net margin of 20.91%. The company had revenue of $64.70 billion for the quarter, compared to analysts’ expectations of $63.33 billion. During the same period last year, the firm posted $3.03 earnings per share. Apple’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 4.03 EPS for the current fiscal year.
In other Apple news, CFO Luca Maestri sold 243,431 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $116.89, for a total value of $28,454,649.59. Following the transaction, the chief financial officer now directly owns 110,272 shares of the company’s stock, valued at $12,889,694.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 257,343 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $113.59, for a total value of $29,231,591.37. The disclosure for this sale can be found here. Insiders have sold 563,814 shares of company stock worth $65,101,827 over the last ninety days. 0.05% of the stock is currently owned by insiders.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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