Apple Inc. (NASDAQ:AAPL) Position Lifted by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,496,238 shares of the iPhone maker’s stock after acquiring an additional 31,258 shares during the quarter. Apple makes up 6.5% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 2nd largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Apple were worth $288,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. State Street Corp lifted its stake in shares of Apple by 0.5% during the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock valued at $112,288,818,000 after buying an additional 2,616,084 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Apple by 116,483.5% during the 4th 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Apple by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock valued at $56,396,763,000 after buying an additional 6,367,053 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Apple by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after buying an additional 7,736,013 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 10th. Redburn Atlantic cut shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 10th. Monness Crespi & Hardt lifted their target price on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wedbush reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, March 21st. Finally, Barclays decreased their price target on shares of Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.53.

Read Our Latest Research Report on Apple

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $171.48 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1-year low of $159.35 and a 1-year high of $199.62. The firm has a market capitalization of $2.65 trillion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.09 and a beta of 1.29. The company’s 50-day moving average is $181.15 and its 200 day moving average is $182.58.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 EPS. Research analysts forecast that Apple Inc. will post 6.55 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio is presently 14.95%.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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