Apple Inc. (NASDAQ:AAPL) Shares Sold by Exchange Capital Management Inc.

Exchange Capital Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 28.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,510 shares of the iPhone maker’s stock after selling 9,768 shares during the period. Exchange Capital Management Inc.’s holdings in Apple were worth $4,280,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in 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 purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 4,456,954 shares during the period. Norges Bank purchased a new stake in Apple during the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. increased its holdings in Apple by 1.6% during the 4th 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 during the period. Finally, Fisher Asset Management LLC increased its holdings in Apple by 5.1% during the 4th 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 during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. UBS Group set a $185.00 price objective on Apple in a report on Thursday, July 21st. Loop Capital dropped their price objective on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Evercore ISI increased their price objective on Apple from $180.00 to $185.00 in a report on Friday, July 29th. Finally, Rosenblatt Securities dropped their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Two equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $179.27.

Apple Stock Down 0.2 %

AAPL opened at $165.81 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The business has a 50 day simple moving average of $146.03 and a 200-day simple moving average of $157.15. The stock has a market capitalization of $2.66 trillion, a P/E ratio of 27.36, a P/E/G ratio of 2.07 and a beta of 1.23. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last posted 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. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. On average, equities analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple declared that its board has authorized a stock repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is currently 15.18%.

Apple Company Profile

(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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