Carlson Capital Management trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,490 shares of the iPhone maker’s stock after selling 274 shares during the period. Apple comprises about 0.6% of Carlson Capital Management’s investment portfolio, making the stock its 28th biggest position. Carlson Capital Management’s holdings in Apple were worth $8,820,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its position in shares of Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Norges Bank purchased a new position in Apple during the fourth quarter valued at $21,746,940,000. Morgan Stanley increased its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares during the last quarter. Vanguard Group Inc. lifted its stake in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of Apple during the 4th quarter valued at about $1,075,599,000. Hedge funds and other institutional investors own 57.89% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on AAPL shares. Wells Fargo & Company lifted their target price on Apple from $185.00 to $210.00 in a report on Tuesday, June 6th. 51job reaffirmed a “maintains” rating on shares of Apple in a report on Friday, June 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Apple from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, May 5th. Bank of America upped their price target on shares of Apple from $176.00 to $190.00 in a research note on Monday, June 5th. Finally, Needham & Company LLC boosted their target price on shares of Apple from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.52.
Apple Stock Performance
Apple (NASDAQ:AAPL – Free Report) last announced its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $94.84 billion during the quarter, compared to analysts’ expectations of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. Apple’s dividend payout ratio (DPR) is currently 16.30%.
Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling
In related news, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the transaction, the insider now owns 33,946 shares in the company, valued at approximately $5,881,483.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Apple news, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 69,996 shares of the 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 approximately $17,790,980.25. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Apple Company Profile
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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