Handelsbanken Fonder AB lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 585,800 shares of the iPhone maker’s stock after selling 21,000 shares during the quarter. Apple makes up about 1.9% of Handelsbanken Fonder AB’s portfolio, making the stock its 6th biggest position. Handelsbanken Fonder AB’s holdings in Apple were worth $98,286,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quattro Financial Advisors LLC acquired a new stake in shares of Apple in the 1st quarter worth $133,000. Smart Portfolios LLC acquired a new stake in shares of Apple in the 1st quarter worth $134,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in shares of Apple in the 1st quarter worth $138,000. Macroview Investment Management LLC boosted its position in shares of Apple by 220.3% in the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares in the last quarter. Finally, Litman Gregory Asset Management LLC boosted its position in shares of Apple by 553.8% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after purchasing an additional 875 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ AAPL opened at $226.41 on Friday. The stock has a market cap of $1,100.25 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.97 and a beta of 1.33. Apple Inc. has a fifty-two week low of $149.16 and a fifty-two week high of $229.67. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. analysts forecast that Apple Inc. will post 11.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.29%. Apple’s payout ratio is currently 31.70%.
In related news, insider Johny Srouji sold 14,140 shares of Apple stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the transaction, the insider now owns 68,302 shares in the company, valued at approximately $14,683,563.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 15,652 shares of Apple stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $190.18, for a total value of $2,976,697.36. Following the completion of the transaction, the chief operating officer now owns 125,258 shares of the company’s stock, valued at approximately $23,821,566.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 378,400 shares of company stock valued at $81,052,754. 0.08% of the stock is owned by company insiders.
A number of research firms have recently weighed in on AAPL. BTIG Research raised Apple to a “buy” rating and raised their price objective for the stock from $207.00 to $235.00 in a research report on Wednesday, August 1st. Macquarie set a $214.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Morgan Stanley restated a “buy” rating and issued a $232.00 target price on shares of Apple in a research note on Wednesday, August 22nd. S&P Equity Research raised their target price on Apple to $250.00 and gave the stock an “in-line” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on Apple in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and an average price target of $214.40.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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