Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Rathbones Group PLC

Rathbones Group PLC lowered its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,084,224 shares of the iPhone maker’s stock after selling 14,444 shares during the period. Apple makes up about 3.8% of Rathbones Group PLC’s investment portfolio, making the stock its 4th largest position. Rathbones Group PLC’s holdings in Apple were worth $593,807,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wyrmwood Management LLC increased its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Gilfoyle & Co LLC increased its stake in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp increased its stake in shares of Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares during the last quarter. Cordant Inc. increased its stake in shares of Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after buying an additional 140 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Apple in the fourth quarter worth $111,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Bank of America restated a “buy” rating and issued a $230.00 price target on shares of Apple in a research note on Wednesday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Barclays boosted their target price on shares of Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Apple in a research note on Friday, May 3rd. Finally, Maxim Group assumed coverage on shares of Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.59.

Read Our Latest Report on Apple

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was 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 owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was 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 owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value 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 approximately $23,068,376.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,270 shares of company stock worth $60,880,196. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $193.12 on Tuesday. The stock’s 50-day moving average price is $180.37 and its two-hundred day moving average price is $183.39. 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 company has a market cap of $2.96 trillion, a PE ratio of 30.03, a PEG ratio of 2.40 and a beta of 1.25. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

Apple announced that its Board of Directors has approved 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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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