Greenspring Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,164 shares of the iPhone maker’s stock after purchasing an additional 200 shares during the period. Apple makes up about 1.7% of Greenspring Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Greenspring Advisors LLC’s holdings in Apple were worth $5,629,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in AAPL. Qube Research & Technologies Ltd grew its stake in shares of Apple by 145.8% during the fourth quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock valued at $114,214,000 after acquiring an additional 381,507 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Apple by 24.2% in the fourth quarter. Teacher Retirement System of Texas now owns 7,217,055 shares of the iPhone maker’s stock worth $1,281,532,000 after purchasing an additional 1,408,326 shares in the last quarter. OPSEU Pension Plan Trust Fund grew its stake in Apple by 9.3% in the fourth quarter. OPSEU Pension Plan Trust Fund now owns 15,985 shares of the iPhone maker’s stock worth $2,909,000 after purchasing an additional 1,362 shares in the last quarter. Fosun International Ltd grew its stake in Apple by 9.1% in the fourth quarter. Fosun International Ltd now owns 59,101 shares of the iPhone maker’s stock worth $10,520,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Smith Salley & Associates grew its stake in Apple by 3.3% in the fourth quarter. Smith Salley & Associates now owns 393,025 shares of the iPhone maker’s stock worth $69,789,000 after purchasing an additional 12,669 shares in the last quarter. 57.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently commented on AAPL. Wells Fargo & Company decreased their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a report on Monday, September 12th. Oppenheimer reissued an “outperform” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Finally, KeyCorp raised their target price on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $181.68.
Insiders Place Their Bets
Apple Trading Down 0.6 %
Apple stock opened at $152.74 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $2.45 trillion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm’s 50 day moving average price is $160.31 and its two-hundred day moving average price is $155.83.
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly 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. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.
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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