Jupiter Asset Management Ltd. Has $397.98 Million Stake in Apple Inc. $AAPL

Jupiter Asset Management Ltd. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,791,655 shares of the iPhone maker’s stock after purchasing an additional 196,610 shares during the quarter. Apple accounts for approximately 3.8% of Jupiter Asset Management Ltd.’s portfolio, making the stock its largest position. Jupiter Asset Management Ltd.’s holdings in Apple were worth $397,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Burkett Financial Services LLC grew its holdings in Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC grew its holdings in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC grew its holdings in Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after buying an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC grew its holdings in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC grew its holdings in Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after buying an additional 5,120 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Evercore ISI reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Wednesday, August 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Monness Crespi & Hardt upped their price target on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Bank of America upped their price target on Apple from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets restated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.05.

Apple Stock Down 0.0%

AAPL stock opened at $239.69 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a fifty day moving average of $219.28 and a 200-day moving average of $212.86.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 15.78%.

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.