Investment Partners LTD. Decreases Holdings in Apple Inc. (NASDAQ:AAPL)

Investment Partners LTD. lessened its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,878 shares of the iPhone maker’s stock after selling 402 shares during the quarter. Apple comprises about 2.8% of Investment Partners LTD.’s investment portfolio, making the stock its 5th largest position. Investment Partners LTD.’s holdings in Apple were worth $6,152,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Apple in the fourth quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC boosted its position in shares of Apple by 14,395.4% in 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. Vanguard Group Inc. grew its stake in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Global Assets Advisory LLC boosted its holdings in Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Apple by 130.1% during the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after buying an additional 5,331,439 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AAPL shares. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Melius Research raised their price objective on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Bank of America reiterated a “buy” rating and set a $230.00 price objective on shares of Apple in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

View Our Latest Analysis on Apple

Apple Stock Up 2.2 %

AAPL opened at $226.34 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $226.45. The stock has a market cap of $3.47 trillion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The stock’s fifty day simple moving average is $197.44 and its 200 day simple moving average is $186.31. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last announced its 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 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%. Apple’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. As a group, research analysts expect that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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

Insider Activity at Apple

In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 in the last ninety days. 0.06% of the stock is owned by company insiders.

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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