Engineers Gate Manager LP boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 57.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,243 shares of the iPhone maker’s stock after buying an additional 10,281 shares during the period. Engineers Gate Manager LP’s holdings in Apple were worth $3,670,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of AAPL. Vanguard Group Inc. boosted its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apple by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 282,749,817 shares of the iPhone maker’s stock worth $36,671,884,000 after purchasing an additional 2,991,299 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Apple by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 82,045,286 shares of the iPhone maker’s stock worth $10,660,144,000 after buying an additional 1,505,221 shares during the last quarter. Swiss National Bank raised its position in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after acquiring an additional 8,230,300 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Apple by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 59,874,884 shares of the iPhone maker’s stock valued at $7,779,544,000 after acquiring an additional 698,686 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of NASDAQ AAPL opened at $183.79 on Tuesday. The business has a fifty day simple moving average of $171.01 and a 200 day simple moving average of $154.16. 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 capitalization of $2.89 trillion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.42 and a beta of 1.29. Apple Inc. has a one year low of $124.17 and a one year high of $184.95.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were paid a dividend of $0.24 per share. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 12th. Apple’s dividend payout ratio is currently 16.30%.
Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 4th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Jefferies Financial Group increased their price target on shares of Apple from $195.00 to $210.00 in a research note on Friday, June 2nd. Atlantic Securities upped their price target on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Canaccord Genuity Group increased their price objective on Apple from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, May 5th. The Goldman Sachs Group assumed coverage on Apple in a report on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price for the company. Finally, DA Davidson lowered shares of Apple from a “buy” rating to a “neutral” rating and dropped their price target for the company from $193.00 to $185.00 in a research report on Monday, June 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $177.11.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 43,622 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the completion of the transaction, the senior vice president now directly owns 136,444 shares in the company, valued at $22,569,202.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 43,622 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the completion of the transaction, the senior vice president now directly owns 136,444 shares in the company, valued at $22,569,202.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction on Wednesday, March 22nd. The stock was 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. Insiders sold 439,529 shares of company stock worth $71,703,657 over the last three months. 0.06% of the stock is currently owned by corporate insiders.
About Apple
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.
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