LGT Fund Management Co Ltd. Has $27.31 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

LGT Fund Management Co Ltd. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 378.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,684 shares of the iPhone maker’s stock after buying an additional 102,581 shares during the period. Apple accounts for approximately 3.3% of LGT Fund Management Co Ltd.’s holdings, making the stock its 6th biggest position. LGT Fund Management Co Ltd.’s holdings in Apple were worth $27,314,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AAPL. Capital International Investors lifted its stake in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. Jennison Associates LLC lifted its position in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares in the last quarter. Swedbank AB increased its stake in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Apple by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after purchasing an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Apple by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after purchasing an additional 415,186 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AAPL. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price objective on shares of Apple in a research report on Tuesday, September 10th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research report on Friday. Finally, Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.91.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last quarter. 0.06% of the stock is owned by company insiders.

Apple Price Performance

NASDAQ:AAPL opened at $231.41 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a market cap of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24. The firm’s fifty day moving average price is $226.86 and its two-hundred day moving average price is $210.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share. Equities analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio is 15.55%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.