Apple Inc. (NASDAQ:AAPL) is Investment Research & Advisory Group Inc.’s 2nd Largest Position

Investment Research & Advisory Group Inc. grew its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 0.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 86,035 shares of the iPhone maker’s stock after acquiring an additional 690 shares during the quarter. Apple comprises 6.7% of Investment Research & Advisory Group Inc.’s investment portfolio, making the stock its 2nd biggest holding. Investment Research & Advisory Group Inc.’s holdings in Apple were worth $14,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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 last quarter. Morgan Stanley grew 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 buying an additional 2,018,010 shares during the last quarter. Norges Bank acquired a new position in Apple during the fourth quarter worth approximately $33,912,466,000. International Assets Investment Management LLC lifted 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 valued at $136,119,470,000 after buying an additional 70,212,651 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,355 shares of company stock worth $34,771,329. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 0.7 %

Shares of AAPL stock opened at $227.82 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $227.85. The company has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.75 and a beta of 1.24. The firm has a 50-day moving average price of $198.52 and a 200 day moving average price of $186.41. 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 posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating 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 business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a $0.25 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AAPL. UBS Group reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Monday, July 1st. Loop Capital decreased their target price 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. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Apple in a report on Monday, July 1st. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Wedbush upped their price target on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.71.

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Apple Company 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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