JARISLOWSKY FRASER Ltd Raises Holdings in Apple Inc. (NASDAQ:AAPL)

JARISLOWSKY FRASER Ltd raised its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,405 shares of the iPhone maker’s stock after purchasing an additional 6,114 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Apple were worth $12,977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Norges Bank bought a new position in shares of Apple during the 4th quarter valued at $33,912,466,000. International Assets Investment Management LLC lifted its holdings 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 buying an additional 70,212,651 shares during the period. Cerity Partners LLC lifted its holdings in shares of Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after buying an additional 5,331,439 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Apple during the 4th quarter valued at $560,388,000. Finally, Hudson Bay Capital Management LP bought a new position in Apple in the 3rd quarter worth $487,435,000. 60.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $162.00 to $188.00 in a report on Friday, May 3rd. Bank of America reaffirmed a “buy” rating and issued a $230.00 target price on shares of Apple in a report on Wednesday, May 29th. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price on the stock in a report on Monday, April 29th. Loop Capital decreased their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, Canaccord Genuity Group raised their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.59.

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Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock valued at $60,880,196 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Trading Up 1.2 %

AAPL opened at $196.89 on Friday. The firm has a market cap of $3.02 trillion, a P/E ratio of 30.62, a P/E/G ratio of 2.37 and a beta of 1.25. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $179.90 and a 200 day moving average of $183.43.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

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 of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.51%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple announced that its board has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Apple 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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