Abbrea Capital LLC Has $43.92 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Abbrea Capital LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,132 shares of the iPhone maker’s stock after selling 1,519 shares during the quarter. Apple comprises about 6.3% of Abbrea Capital LLC’s investment portfolio, making the stock its biggest holding. Abbrea Capital LLC’s holdings in Apple were worth $43,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AAPL. Morgan Stanley increased its position in Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after acquiring an additional 2,018,010 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Barclays PLC lifted its stake in shares of Apple by 6.0% in the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after purchasing an additional 2,826,709 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Apple by 4.6% in the third quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock worth $6,605,195,000 after buying an additional 1,696,576 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Apple by 1.7% during the third quarter. Nordea Investment Management AB now owns 17,519,918 shares of the iPhone maker’s stock valued at $3,020,609,000 after buying an additional 287,329 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold 371,270 shares of company stock worth $64,605,696 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. Bank of America lifted their target price on Apple from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler reduced their price target on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. DZ Bank reaffirmed a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Finally, Morgan Stanley increased their target price on shares of Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $205.44.

Check Out Our Latest Analysis on AAPL

Apple Stock Performance

NASDAQ:AAPL opened at $189.98 on Monday. The firm has a market capitalization of $2.91 trillion, a PE ratio of 29.55, a PEG ratio of 2.32 and a beta of 1.26. The stock’s fifty day moving average is $175.89 and its 200 day moving average is $183.04. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 6.57 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple Company Profile

(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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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