Norway Savings Bank Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by on Sep 23rd, 2023

Norway Savings Bank cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,371 shares of the iPhone maker’s stock after selling 1,845 shares during the quarter. Apple accounts for 5.2% of Norway Savings Bank’s holdings, making the stock its largest position. Norway Savings Bank’s holdings in Apple were worth $9,576,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AAPL. Vanguard Group Inc. boosted its position in shares of Apple by 0.7% during 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 acquiring an additional 8,734,393 shares in the last quarter. Berkshire Hathaway Inc boosted its position in shares of Apple by 2.3% during the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC boosted its position in Apple by 0.9% in the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock valued at $46,918,015,000 after buying an additional 2,421,295 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Apple by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after buying an additional 7,736,013 shares in the last quarter. 58.51% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAPL. 58.com restated a “maintains” rating on shares of Apple in a research report on Monday, June 5th. Wells Fargo & Company raised their target price on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Wedbush raised their target price on shares of Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Rosenblatt Securities restated a “neutral” rating and issued a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. Finally, Sanford C. Bernstein raised their target price on shares of Apple from $175.00 to $195.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.41.

Get Our Latest Stock Analysis on AAPL

Apple Stock Up 0.5 %

Shares of NASDAQ AAPL opened at $174.79 on Friday. The stock has a market capitalization of $2.73 trillion, a P/E ratio of 29.38, a P/E/G ratio of 2.56 and a beta of 1.27. The company has a 50-day moving average price of $183.68 and a 200-day moving average price of $176.04. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

Apple Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.