BI Asset Management Fondsmaeglerselskab A S Has $142.45 Million Stake in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Jun 12th, 2023

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 66.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,096,390 shares of the iPhone maker’s stock after buying an additional 436,138 shares during the period. Apple accounts for approximately 3.8% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 2nd largest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Apple were worth $142,454,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MKT Advisors LLC lifted its holdings in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares in the last quarter. Adaptive Financial Consulting LLC lifted its holdings in shares of Apple by 2.7% in the fourth quarter. Adaptive Financial Consulting LLC now owns 2,606 shares of the iPhone maker’s stock worth $339,000 after buying an additional 68 shares in the last quarter. Silver Oak Advisory Group Inc. lifted its holdings in shares of Apple by 1.8% in the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock worth $537,000 after buying an additional 69 shares in the last quarter. 3D L Capital Management LLC lifted its holdings in shares of Apple by 2.9% in the first quarter. 3D L Capital Management LLC now owns 2,445 shares of the iPhone maker’s stock worth $427,000 after buying an additional 70 shares in the last quarter. Finally, Weik Capital Management lifted its holdings in shares of Apple by 0.3% in the first quarter. Weik Capital Management now owns 25,238 shares of the iPhone maker’s stock worth $4,407,000 after buying an additional 70 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 56,072 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the completion of the transaction, the chief executive officer now directly owns 3,280,052 shares in the company, valued at $541,766,188.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy D. Cook sold 56,072 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the completion of the transaction, the chief executive officer now directly owns 3,280,052 shares in the company, valued at $541,766,188.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the transaction, the chief operating officer now owns 489,816 shares of the company’s stock, valued at $78,253,004.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 439,529 shares of company stock valued at $71,703,657. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Apple from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, May 5th. StockNews.com initiated coverage on shares of Apple in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Needham & Company LLC upped their price objective on shares of Apple from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Atlantic Securities upped their price objective on shares of Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 5th. Finally, Credit Suisse Group upped their price objective on shares of Apple from $188.00 to $200.00 in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.11.

Apple Stock Up 0.5 %

Apple stock traded up $0.89 on Monday, hitting $181.85. 12,931,531 shares of the stock traded hands, compared to its average volume of 63,127,961. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56. The firm has a market cap of $2.86 trillion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 2.42 and a beta of 1.29. The business’s fifty day simple moving average is $170.66 and its 200 day simple moving average is $153.93. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $184.95.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $94.84 billion during the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 5.99 earnings per share for the current year.

Apple announced that its board has approved a stock repurchase program on Thursday, May 4th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.96 annualized dividend and a yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is currently 16.30%.

Apple Company Profile

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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.