Neo Ivy Capital Management Grows Position in Apple Inc. (NASDAQ:AAPL)
A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in Apple by 1,841.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 8,755,560 shares of the iPhone maker’s stock worth $78,548,000 after purchasing an additional 8,304,604 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Apple in the 4th quarter worth approximately $1,461,735,000. Capital Research Global Investors lifted its position in shares of Apple by 38.1% during the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock valued at $5,247,094,000 after buying an additional 8,154,171 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in shares of Apple by 12,722.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 7,461,010 shares of the iPhone maker’s stock valued at $7,924,000 after buying an additional 7,402,824 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.
Shares of AAPL stock opened at $132.76 on Wednesday. The business’s fifty day moving average price is $153.46 and its 200 day moving average price is $164.00. Apple Inc. has a 1-year low of $128.46 and a 1-year high of $182.94. The firm has a market capitalization of $2.15 trillion, a PE ratio of 21.55, a P/E/G ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Apple’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is currently 14.94%.
In other Apple news, COO Jeffrey E. Williams sold 105,901 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the sale, the chief operating officer now directly owns 489,662 shares in the company, valued at $87,037,420.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 8,000 shares of the business’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $164.91, for a total value of $1,319,280.00. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $22,475,583.90. The disclosure for this sale can be found here. Insiders have sold 168,099 shares of company stock worth $29,376,711 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
AAPL has been the subject of several recent research reports. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research note on Monday. Deutsche Bank Rese… set a $210.00 price objective on Apple in a research report on Friday, April 8th. Morgan Stanley cut their price objective on Apple from $195.00 to $185.00 in a research report on Tuesday. The Goldman Sachs Group set a $157.00 target price on Apple in a report on Friday, June 3rd. Finally, Credit Suisse Group set a $169.00 target price on Apple in a report on Friday, April 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Buy” and a consensus price target of $186.55.
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.
Further Reading
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