Apple Inc. (NASDAQ:AAPL) Stock Position Raised by Achmea Investment Management B.V.

Achmea Investment Management B.V. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,936,510 shares of the iPhone maker’s stock after purchasing an additional 272,966 shares during the quarter. Apple accounts for about 6.3% of Achmea Investment Management B.V.’s holdings, making the stock its biggest position. Achmea Investment Management B.V.’s holdings in Apple were worth $430,157,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of Apple during the 4th quarter worth approximately $1,877,000. First National Bank of Hutchinson raised its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Capital & Planning LLC raised its holdings in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock valued at $6,836,000 after acquiring an additional 2,647 shares during the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 4.2%

Apple stock opened at $229.35 on Monday. The company has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a P/E/G ratio of 2.40 and a beta of 1.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm’s fifty day simple moving average is $206.84 and its 200-day simple moving average is $213.07.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. Barclays upped their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price target for the company. UBS Group raised their target price on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Bank of America raised their target price on Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley raised their target price on Apple from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

About Apple

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.