Apple Inc. (NASDAQ:AAPL) Shares Bought by Railway Pension Investments Ltd

Railway Pension Investments Ltd raised its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,243,152 shares of the iPhone maker’s stock after acquiring an additional 1,000 shares during the quarter. Apple comprises about 1.7% of Railway Pension Investments Ltd’s holdings, making the stock its 14th biggest position. Railway Pension Investments Ltd’s holdings in Apple were worth $217,067,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in Apple in the fourth quarter valued at $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in the fourth quarter valued at $57,000. Econ Financial Services Corp acquired a new stake in Apple in the fourth quarter valued at $58,000. Finally, Castle Financial & Retirement Planning Associates Inc. acquired a new stake in Apple in the fourth quarter valued at $116,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. Loop Capital cut their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. UBS Group set a $185.00 price target on Apple in a report on Thursday. Piper Sandler cut their price target on Apple from $200.00 to $195.00 in a report on Friday, April 29th. Finally, The Goldman Sachs Group set a $130.00 price target on Apple in a report on Tuesday, July 19th. Nine 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 data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $182.73.

Apple Stock Down 0.8 %

Shares of NASDAQ AAPL opened at $154.09 on Friday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a market cap of $2.49 trillion, a P/E ratio of 25.01, a P/E/G ratio of 2.01 and a beta of 1.19. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The stock has a fifty day moving average price of $142.90 and a 200 day moving average price of $157.91.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $93.99 billion. During the same period in the prior year, the firm earned $1.40 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.09 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is currently 14.94%.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company 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.

See Also

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)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.