Lockheed Martin Investment Management Co. Has $158.24 Million Stake in Apple Inc. (NASDAQ:AAPL)

Lockheed Martin Investment Management Co. grew its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 821,880 shares of the iPhone maker’s stock after acquiring an additional 61,600 shares during the period. Apple comprises approximately 11.0% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its biggest holding. Lockheed Martin Investment Management Co.’s holdings in Apple were worth $158,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Morgan Stanley raised its stake in shares of 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 in the last quarter. Norges Bank bought a new position in Apple in the fourth quarter worth approximately $33,912,466,000. International Assets Investment Management LLC raised its stake in Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after buying an additional 70,212,651 shares in the last quarter. Barclays PLC raised its stake in Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after buying an additional 2,826,709 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in 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 in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAPL shares. Rosenblatt Securities reissued a “neutral” rating and issued a $196.00 price objective (up previously from $189.00) on shares of Apple in a research note on Friday, May 3rd. Loop Capital reduced their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Bank of America reissued a “buy” rating and issued a $230.00 price objective on shares of Apple in a research note on Wednesday, May 29th. Tigress Financial boosted their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.59.

Get Our Latest Analysis on AAPL

Apple Trading Up 1.2 %

Shares of Apple stock opened at $196.89 on Monday. The firm has a 50-day simple moving average of $179.90 and a two-hundred day simple moving average of $183.38. The company has a market cap of $3.02 trillion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. 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 issued its quarterly earnings data 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. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, equities analysts predict that Apple Inc. will post 6.57 earnings per share for the current fiscal 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 given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple announced that its board has approved a share buyback plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 346,270 shares of company stock worth $60,880,196. Company insiders own 0.06% of the company’s stock.

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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