Aletheian Wealth Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,076 shares of the iPhone maker’s stock after selling 780 shares during the quarter. Apple accounts for 1.8% of Aletheian Wealth Advisors LLC’s portfolio, making the stock its 13th largest position. Aletheian Wealth Advisors LLC’s holdings in Apple were worth $3,709,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at about $46,868,648,000. Nuveen LLC purchased a new stake in shares of Apple during the first quarter worth about $17,472,482,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Apple in a research note on Monday. They set an “outperform” rating and a $290.00 target price for the company. Rosenblatt Securities upped their price target on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Morgan Stanley set a $240.00 price target on shares of Apple and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Loop Capital lowered their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, Melius Research set a $290.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.93.
View Our Latest Stock Report on Apple
Apple Trading Up 0.4%
NASDAQ AAPL opened at $238.99 on Thursday. The stock has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.47 and a beta of 1.11. The stock’s 50 day moving average price is $223.15 and its two-hundred day moving average price is $212.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.
Insider Buying and Selling
In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.
About Apple
(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.
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