Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,482,421 shares of the iPhone maker’s stock after selling 94,177 shares during the period. Apple comprises about 6.3% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its biggest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Apple were worth $904,051,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. IFM Investors Pty Ltd grew its position in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its holdings in shares of Apple by 0.4% in 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 in the last quarter. Markel Corp boosted its stake in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after purchasing an additional 8,450 shares in the last quarter. Camden Capital LLC lifted its position in 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 in the last quarter. Finally, Harbor Island Capital LLC increased its holdings in shares of Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Apple
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter last year, the business posted $1.20 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.05 EPS for the current year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. UBS Group downgraded shares of Apple from a “buy” rating to a “neutral” rating and increased their price target for the company from $180.00 to $190.00 in a research report on Monday, June 12th. Tigress Financial boosted their target price on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. TD Cowen raised their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. DA Davidson lowered Apple from a “buy” rating to a “neutral” rating and cut their price target for the company from $193.00 to $185.00 in a research note on Monday, June 5th. Finally, 58.com reissued a “maintains” rating on shares of Apple in a research report on Monday, June 5th. Ten investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $198.86.
Read Our Latest Stock Analysis on AAPL
Apple 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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