Rempart Asset Management Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,585 shares of the iPhone maker’s stock after selling 250 shares during the quarter. Rempart Asset Management Inc.’s holdings in Apple were worth $1,115,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealthspire Advisors LLC increased its holdings in Apple by 42.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares during the period. Eagle Bay Advisors LLC boosted its position in shares of Apple by 35.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after acquiring an additional 6,735 shares in the last quarter. Callan Capital LLC boosted its position in shares of Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after acquiring an additional 1,322 shares in the last quarter. Bennett Selby Investments LP boosted its position in shares of Apple by 0.3% during the 3rd quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock worth $20,978,000 after acquiring an additional 450 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Apple during the 3rd quarter worth about $563,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.
Analyst Ratings Changes
AAPL has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective on shares of Apple in a research report on Friday, February 3rd. Morgan Stanley upped their price objective on Apple from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Cowen decreased their target price on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 target price on shares of Apple in a research report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $160.00 target price on Apple in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.24.
Apple Trading Down 0.5 %
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a net margin of 24.56% and a return on equity of 163.45%. The company had revenue of $117.15 billion during the quarter, compared to analysts’ expectations of $121.67 billion. During the same period last year, the business earned $2.10 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.04 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were given a $0.23 dividend. The ex-dividend date was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a yield of 0.59%. Apple’s dividend payout ratio (DPR) is 15.62%.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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