Summit Place Financial Advisors LLC Has $7.51 Million Stock Position in Apple Inc. $AAPL

Summit Place Financial Advisors LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 33,827 shares of the iPhone maker’s stock after buying an additional 170 shares during the quarter. Apple comprises approximately 4.2% of Summit Place Financial Advisors LLC’s portfolio, making the stock its biggest position. Summit Place Financial Advisors LLC’s holdings in Apple were worth $7,514,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC increased its holdings in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank bought a new stake in Apple in the 4th quarter worth about $46,868,648,000. Northern Trust Corp boosted its position in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 0.1%

AAPL stock opened at $230.56 on Wednesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.42 trillion, a P/E ratio of 34.99, a PEG ratio of 2.42 and a beta of 1.16. The business’s 50-day moving average price is $210.83 and its 200-day moving average price is $213.06.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has approved a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Apple Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AAPL shares. Citigroup raised their target price on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Barclays raised their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. UBS Group raised their target price on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Finally, BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.60.

Apple Company 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.