Satovsky Asset Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,714 shares of the iPhone maker’s stock after selling 878 shares during the quarter. Apple makes up 3.1% of Satovsky Asset Management LLC’s portfolio, making the stock its 7th largest position. Satovsky Asset Management LLC’s holdings in Apple were worth $7,369,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors 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 worth $456,728,000 after buying 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 worth $42,016,000 after buying 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 worth $210,752,000 after buying 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 worth $27,305,000 after buying 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 worth $23,629,000 after buying an additional 400 shares during the period. 57.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on AAPL. Piper Sandler restated an “overweight” rating and set a $195.00 target price on shares of Apple in a research report on Friday, February 3rd. Bank of America lifted their price objective on Apple from $158.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 5th. JPMorgan Chase & Co. lifted their price objective on Apple from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a report on Thursday, March 30th. Finally, Fundamental Research reiterated a “buy” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $169.82.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a net margin of 24.56% and a return on equity of 163.45%. The firm had revenue of $117.15 billion during the quarter, compared to analyst estimates of $121.67 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 6.03 EPS for the current year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Apple’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, February 10th. Apple’s dividend payout ratio is presently 15.62%.
Insider Activity
In other news, CFO Luca Maestri sold 69,996 shares of the company’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $165.25, for a total transaction of $11,566,839.00. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares in the company, valued at approximately $17,790,980.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 69,996 shares of the company’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $165.25, for a total value of $11,566,839.00. Following the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at $17,790,980.25. The disclosure for this sale can be found here. In the last three months, insiders sold 435,437 shares of company stock worth $70,994,677. 0.06% of the stock is currently owned by company insiders.
Apple 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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