Apple Inc. (NASDAQ:AAPL) is Crew Capital Management Ltd.’s Largest Position

Crew Capital Management Ltd. grew its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,341 shares of the iPhone maker’s stock after buying an additional 775 shares during the period. Apple accounts for about 7.8% of Crew Capital Management Ltd.’s holdings, making the stock its largest holding. Crew Capital Management Ltd.’s holdings in Apple were worth $8,092,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AAPL. State Street Corp lifted its holdings in shares of 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 lifted its holdings in shares of 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 purchased a new stake in shares of Apple in the 4th quarter valued at about $25,228,507,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 increased its position 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 acquiring an additional 3,096,696 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock opened at $165.35 on Friday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The stock’s 50 day moving average price is $146.34 and its 200 day moving average price is $157.12. The firm has a market cap of $2.66 trillion, a P/E ratio of 27.29, a PEG ratio of 2.15 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the company earned $1.30 EPS. Apple’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research report on Monday, August 1st. Fundamental Research set a $177.07 price target on Apple and gave the company a “buy” rating in a research report on Thursday. Evercore ISI boosted their price target on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Citigroup boosted their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Barclays dropped their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.27.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

About Apple

(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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