Apple Inc. (NASDAQ:AAPL) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC lowered its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 179,969 shares of the iPhone maker’s stock after selling 300 shares during the period. Apple accounts for 3.6% of Naples Global Advisors LLC’s portfolio, making the stock its largest position. Naples Global Advisors LLC’s holdings in Apple were worth $31,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in Apple by 1.8% in 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 during the last quarter. Geode Capital Management LLC boosted its stake in Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after acquiring an additional 4,456,954 shares during the last quarter. Norges Bank bought a new position in Apple in the fourth quarter valued at approximately $25,228,507,000. Charles Schwab Investment Management Inc. boosted its position in shares of Apple by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after purchasing an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Apple by 5.1% during the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after purchasing an additional 3,096,696 shares in the last quarter. Institutional investors and hedge funds own 57.98% of the company’s stock.

Apple Stock Down 0.1 %

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

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. Sell-side analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Dividend Announcement

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

Apple announced that its board has initiated a share 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 buy 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.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AAPL. Wells Fargo & Company reduced their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Ita├║ Unibanco began coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Bank of America reduced their price target on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Credit Suisse Group set a $166.00 price objective on shares of Apple in a report on Friday, July 29th. Finally, Evercore ISI raised their price objective on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.27.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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