Stonebridge Capital Management Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,538 shares of the iPhone maker’s stock after selling 8,650 shares during the period. Apple comprises 9.0% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its biggest holding. Stonebridge Capital Management Inc.’s holdings in Apple were worth $16,528,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IFM Investors Pty Ltd grew its position in shares of Apple by 20.0% during the 1st 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 position in shares of Apple by 0.4% during the 1st 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 position in shares of Apple by 0.7% during the 1st 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 position in shares of Apple by 9.2% during the 1st 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 position in shares of Apple by 0.3% during the 1st 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. Institutional investors and hedge funds own 58.51% of the company’s stock.
Insider Buying and Selling at Apple
In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
AAPL has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. DA Davidson started coverage on shares of Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price target for the company. Bank of America raised shares of Apple from a “neutral” rating to a “buy” rating and raised their price target for the company from $208.00 to $225.00 in a report on Thursday, January 18th. Piper Sandler cut their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Finally, Morgan Stanley raised their price target on shares of Apple from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.27.
Get Our Latest Stock Analysis on AAPL
Apple Stock Down 0.2 %
AAPL opened at $172.62 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average price of $183.39 and a 200-day moving average price of $183.31. Apple Inc. has a twelve month low of $151.64 and a twelve month high of $199.62. The stock has a market capitalization of $2.67 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.06 and a beta of 1.29.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.55 earnings per share for the current year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s dividend payout ratio is currently 14.95%.
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.
Read More
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
