72,425 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in Apple Inc. (NASDAQ:AAPLFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 72,425 shares of the iPhone maker’s stock, valued at approximately $13,944,000. Apple makes up about 0.7% of Weiss Asset Management LP’s portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Apple by 1.0% during the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after purchasing an additional 2,018,010 shares during the last quarter. Norges Bank acquired a new stake in Apple during the 4th quarter worth $33,912,466,000. International Assets Investment Management LLC boosted its stake in 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 worth $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Barclays PLC boosted its stake in Apple by 6.0% during 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 last quarter. Finally, California Public Employees Retirement System boosted its stake in Apple by 4.6% during the 3rd quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock worth $6,605,195,000 after purchasing an additional 1,696,576 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. Canaccord Genuity Group lifted their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Loop Capital lowered their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Apple in a research report on Friday, May 3rd. DZ Bank reissued a “hold” rating and set a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Finally, Tigress Financial boosted their price target on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned 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.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $205.59.

Read Our Latest Analysis on AAPL

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the 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 completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock worth $60,880,196 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.2 %

AAPL stock opened at $196.89 on Monday. The company’s 50 day moving average price is $179.90 and its 200 day moving average price is $183.38. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The firm has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.40 and a beta of 1.25.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is presently 15.55%.

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

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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