Nvwm LLC lowered its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,164 shares of the iPhone maker’s stock after selling 311 shares during the period. Apple makes up approximately 4.4% of Nvwm LLC’s investment portfolio, making the stock its largest holding. Nvwm LLC’s holdings in Apple were worth $17,571,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Country Club Bank boosted its holdings in Apple by 1.6% in the fourth quarter. Country Club Bank now owns 146,130 shares of the iPhone maker’s stock valued at $36,854,000 after purchasing an additional 2,273 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apple by 5.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,190,986 shares of the iPhone maker’s stock valued at $1,321,597,000 after buying an additional 280,049 shares during the last quarter. Virginia Wealth Management Group Inc. lifted its holdings in shares of Apple by 0.5% in the 4th quarter. Virginia Wealth Management Group Inc. now owns 21,618 shares of the iPhone maker’s stock valued at $5,414,000 after buying an additional 102 shares during the period. Jericho Financial LLP purchased a new stake in shares of Apple in the fourth quarter worth about $7,657,000. Finally, Berkshire Money Management Inc. grew its holdings in Apple by 12.9% during the fourth quarter. Berkshire Money Management Inc. now owns 23,133 shares of the iPhone maker’s stock worth $5,793,000 after acquiring an additional 2,646 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AAPL shares. Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Raymond James lifted their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Friday. Finally, DA Davidson set a $290.00 target price on shares of Apple in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.26.
Insider Activity
In other news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last 90 days. Company insiders own 0.06% of the company’s stock.
Apple Price Performance
NASDAQ:AAPL opened at $188.38 on Friday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The stock has a market cap of $2.83 trillion, a PE ratio of 29.90, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a 50 day moving average price of $229.45 and a 200 day moving average price of $232.96.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. Apple’s payout ratio is 15.87%.
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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