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Stevens Capital Management LP raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 631.1% during the first quarter, HoldingsChannel reports. The firm owned 94,932 shares of the iPhone maker’s stock after buying an additional 81,947 shares during the quarter. Apple comprises 5.2% of Stevens Capital Management LP’s holdings, making the stock its 3rd largest position. Stevens Capital Management LP’s holdings in Apple were worth $21,087,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC grew its stake in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Norges Bank bought a new position in Apple in the fourth quarter worth approximately $46,868,648,000. Northern Trust Corp boosted its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Apple by 14.3% during the 4th 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 valued at $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Bank of America increased their target price on Apple from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 target price on shares of Apple in a research report on Tuesday, July 29th. Barclays increased their target price on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Finally, Loop Capital dropped their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.73.
Check Out Our Latest Research Report on Apple
Apple Stock Performance
Shares of AAPL stock opened at $238.47 on Thursday. The firm has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a fifty day moving average of $217.73 and a 200 day moving average of $212.92. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.
Insider Transactions at Apple
In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.
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.
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Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
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