Neo Ivy Capital Management Grows Position in Apple Inc. (NASDAQ:AAPL)

   2022-06-15 11:06

Neo Ivy Capital Management boosted its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 308.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,464 shares of the iPhone maker’s stock after purchasing an additional 2,615 shares during the quarter. Apple makes up approximately 0.9% of Neo Ivy Capital Management’s investment portfolio, making the stock its 12th largest holding. Neo Ivy Capital Management’s holdings in Apple were worth $615,000 at the end of the most recent reporting period.

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:AAPLGet 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

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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