Carderock Capital Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,901 shares of the iPhone maker’s stock after selling 43,205 shares during the quarter. Apple accounts for approximately 5.6% of Carderock Capital Management Inc.’s investment portfolio, making the stock its biggest holding. Carderock Capital Management Inc.’s holdings in Apple were worth $17,444,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in AAPL. State Street Corp boosted its stake in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after acquiring an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. lifted 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 buying an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake 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 hedge funds and other institutional investors.
Apple Stock Performance
NASDAQ:AAPL opened at $165.81 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market capitalization of $2.66 trillion, a P/E ratio of 27.36, a PEG ratio of 2.07 and a beta of 1.23. The company has a 50 day moving average price of $146.03 and a 200 day moving average price of $157.15.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 6.1 EPS for the current year.
Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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 given a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.55%. Apple’s dividend payout ratio is presently 15.18%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on AAPL shares. Fundamental Research set a $177.07 price target on shares of Apple and gave the company a “buy” rating in a research note on Thursday. UBS Group set a $185.00 price target on shares of Apple in a research note on Thursday, July 21st. set a $175.00 price target on shares of Apple in a research note on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research note on Monday, July 25th. Finally, Bank of America decreased their price target on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.27.
Apple Company Profile
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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