Sustainable Insight Capital Management LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

Sustainable Insight Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,601 shares of the iPhone maker’s stock after purchasing an additional 2,400 shares during the quarter. Apple accounts for about 3.4% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Sustainable Insight Capital Management LLC’s holdings in Apple were worth $3,397,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC lifted its stake in Apple by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 282,749,817 shares of the iPhone maker’s stock valued at $36,671,884,000 after buying an additional 2,991,299 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Apple by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 226,281,368 shares of the iPhone maker’s stock valued at $29,400,739,000 after buying an additional 1,417,827 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after buying an additional 25,926,552 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler raised their target price on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Sanford C. Bernstein lifted their price objective on shares of Apple from $175.00 to $195.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Oppenheimer lifted their price objective on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Piper Jaffray Companies lifted their price objective on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Finally, Tigress Financial lifted their price objective on shares of Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.86.

Check Out Our Latest Analysis on AAPL

Insider Activity

In related news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of AAPL opened at $189.46 on Tuesday. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 2.76 and a beta of 1.27. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The business’s 50-day moving average is $186.91 and its 200-day moving average is $173.74.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities research analysts expect that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s dividend payout ratio is 16.13%.

About Apple

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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