Apple Inc. (NASDAQ:AAPL) is Cairn Investment Group Inc.’s 3rd Largest Position

Posted by Defense World Staff on Mar 23rd, 2023

Cairn Investment Group Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,943 shares of the iPhone maker’s stock after purchasing an additional 1,035 shares during the quarter. Apple accounts for approximately 7.0% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 3rd largest holding. Cairn Investment Group Inc.’s holdings in Apple were worth $9,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Great West Life Assurance Co. Can bought a new stake in shares of Apple in the third quarter valued at about $1,890,884,000. Barclays PLC grew its stake in Apple by 53.0% in the third quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock valued at $4,178,590,000 after purchasing an additional 10,471,342 shares during the last quarter. Legal & General Group Plc grew its stake in Apple by 8.2% in the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after purchasing an additional 9,411,018 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after acquiring an additional 8,716,964 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Apple from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd. Evercore ISI reiterated an “outperform” rating and issued a $190.00 target price on shares of Apple in a research report on Monday, February 6th. National Bank Financial decreased their price target on Apple to $54.00 and set an “outperform” rating for the company in a report on Friday, January 20th. Cowen decreased their price target on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Finally, StockNews.com started coverage on Apple in a report on Thursday, March 16th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $168.24.

Apple Stock Down 0.9 %

Shares of NASDAQ:AAPL opened at $157.83 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average of $148.24 and a two-hundred day moving average of $145.34. The stock has a market cap of $2.50 trillion, a P/E ratio of 26.80, a PEG ratio of 2.05 and a beta of 1.30. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61.

Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion during the quarter, compared to analysts’ expectations of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 earnings per share. On average, research analysts expect that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. Apple’s dividend payout ratio is currently 15.62%.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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