Bath Savings Trust Co cut its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,804 shares of the iPhone maker’s stock after selling 3,986 shares during the quarter. Apple comprises 5.1% of Bath Savings Trust Co’s investment portfolio, making the stock its biggest position. Bath Savings Trust Co’s holdings in Apple were worth $39,343,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in Apple by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 2,546,340 shares of the iPhone maker’s stock worth $330,844,000 after purchasing an additional 13,379 shares in the last quarter. MU Investments Co. Ltd. grew its holdings in shares of Apple by 7.2% during the 4th quarter. MU Investments Co. Ltd. now owns 23,830 shares of the iPhone maker’s stock valued at $3,089,000 after purchasing an additional 1,600 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Apple by 2.9% during the 4th quarter. DNB Asset Management AS now owns 3,756,338 shares of the iPhone maker’s stock valued at $488,061,000 after purchasing an additional 106,968 shares during the last quarter. Ayrshire Capital Management LLC grew its holdings in shares of Apple by 0.7% during the 4th quarter. Ayrshire Capital Management LLC now owns 39,203 shares of the iPhone maker’s stock valued at $5,094,000 after purchasing an additional 291 shares during the last quarter. Finally, Cairn Investment Group Inc. grew its holdings in shares of Apple by 1.5% during the 4th quarter. Cairn Investment Group Inc. now owns 71,943 shares of the iPhone maker’s stock valued at $9,348,000 after purchasing an additional 1,035 shares during the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
AAPL has been the topic of several recent research reports. Wedbush increased their target price on shares of Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, March 8th. Morgan Stanley raised their price target on shares of Apple from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 3rd. Rosenblatt Securities raised their price target on shares of Apple from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target on shares of Apple in a report on Friday, February 3rd. Finally, Sanford C. Bernstein set a $125.00 price target on shares of Apple in a report on Tuesday, January 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $168.24.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The business had revenue of $117.15 billion for 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%. Apple’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 EPS. Sell-side analysts forecast that Apple Inc. will post 6.04 EPS for the current fiscal year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio is currently 15.62%.
Apple Company Profile
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.
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