New Mexico Educational Retirement Board Raises Stake in Apple Inc. (NASDAQ:AAPL)

New Mexico Educational Retirement Board increased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 17.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 901,564 shares of the iPhone maker’s stock after buying an additional 135,900 shares during the period. Apple accounts for about 5.5% of New Mexico Educational Retirement Board’s portfolio, making the stock its 2nd largest holding. New Mexico Educational Retirement Board’s holdings in Apple were worth $157,422,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. increased its position in 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 acquiring an additional 18,067,216 shares during the period. Morgan Stanley raised its stake in Apple by 1.0% in the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after purchasing an additional 2,018,010 shares in the last quarter. Norges Bank acquired a new stake in Apple during the fourth quarter worth about $33,912,466,000. International Assets Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 70,212,651 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after purchasing an additional 2,096,360 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other 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 value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Arthur D. Levinson sold 75,000 shares of Apple 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 completion of the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold 192,355 shares of company stock valued at $34,771,329 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.4 %

Shares of AAPL stock opened at $228.68 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.51 trillion, a P/E ratio of 35.56, a PEG ratio of 2.75 and a beta of 1.24. The company has a 50 day moving average of $199.69 and a 200-day moving average of $186.66. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $229.40.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period last year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

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

Apple Increases Dividend

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

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Citigroup decreased their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Monness Crespi & Hardt reissued a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and increased their price target for the stock from $196.00 to $260.00 in a report on Wednesday, June 26th. Barclays reissued an “underweight” rating and issued a $164.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $217.29.

View Our Latest Analysis on AAPL

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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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