Wellington Management Group LLP Purchases 6,162,898 Shares of Apple Inc. (NASDAQ:AAPL)

Wellington Management Group LLP grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 10.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,133,546 shares of the iPhone maker’s stock after purchasing an additional 6,162,898 shares during the period. Apple makes up 2.0% of Wellington Management Group LLP’s holdings, making the stock its 3rd largest position. Wellington Management Group LLP owned approximately 0.41% of Apple worth $11,722,187,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Joseph Group Capital Management acquired a new stake in Apple during the fourth quarter worth about $1,631,000. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple during the fourth quarter worth about $41,000. Emerson Wealth LLC grew its holdings in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares during the period. Finally, Econ Financial Services Corp grew its holdings in Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares during the period. 57.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL stock opened at $157.37 on Monday. The business has a fifty day moving average of $158.47 and a two-hundred day moving average of $156.30. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.53 trillion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The company 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 firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.58%. Apple’s dividend payout ratio (DPR) is 15.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAPL. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research report on Tuesday, September 6th. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday. Wedbush increased their price target on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Finally, Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.31.

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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