Corient Private Wealth LLC Has $2.98 Billion Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Corient Private Wealth LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,152,322 shares of the iPhone maker’s stock after purchasing an additional 27,571 shares during the period. Apple accounts for approximately 4.9% of Corient Private Wealth LLC’s holdings, making the stock its biggest holding. Corient Private Wealth LLC owned 0.08% of Apple worth $2,976,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. FMR LLC increased its position in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Apple by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker’s stock valued at $24,566,054,000 after buying an additional 3,156,680 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Apple by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock valued at $21,335,435,000 after buying an additional 1,742,087 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. Barclays decreased their price target on shares of Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Apple in a report on Friday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target on shares of Apple in a report on Friday, May 16th. Finally, Rosenblatt Securities lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.80.

Apple Stock Down 3.0%

AAPL stock opened at $195.27 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company’s 50 day simple moving average is $205.04 and its 200-day simple moving average is $225.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market capitalization of $2.92 trillion, a P/E ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is currently 16.20%.

Apple Profile

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.