Covea Finance boosted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 414,740 shares of the iPhone maker’s stock after purchasing an additional 5,980 shares during the quarter. Apple comprises 4.0% of Covea Finance’s holdings, making the stock its 2nd largest holding. Covea Finance’s holdings in Apple were worth $71,008,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in AAPL. IFM Investors Pty Ltd grew its stake in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. grew its stake in Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the period. Markel Corp grew its stake in Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC grew its stake in Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC grew its stake in Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the period. 58.51% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 4,806 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the sale, the insider now directly owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,806 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the transaction, the insider now directly owns 34,687 shares in the company, valued at approximately $6,383,795.48. The disclosure for this sale can be found here. Insiders have sold 573,352 shares of company stock valued at $101,734,290 over the last ninety days. 0.06% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on AAPL shares. Wedbush raised their price objective on Apple from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. Tigress Financial lifted their target price on Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 16th. Bank of America reaffirmed a “neutral” rating and issued a $173.00 price objective on shares of Apple in a report on Tuesday, October 24th. Morgan Stanley lifted their price objective on Apple from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 8th. Finally, Jefferies Financial Group cut their price objective on Apple from $220.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.82.
View Our Latest Stock Analysis on AAPL
Apple Price Performance
NASDAQ:AAPL opened at $195.89 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $3.05 trillion, a P/E ratio of 32.01, a P/E/G ratio of 2.74 and a beta of 1.31. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $199.62. The business’s 50-day moving average is $184.40 and its 200 day moving average is $183.67.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.56 earnings per share for the current fiscal year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, November 10th. This represents a $0.96 annualized dividend and a yield of 0.49%. Apple’s payout ratio is currently 15.69%.
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.
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