abrdn plc decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,056,597 shares of the iPhone maker's stock after selling 759,800 shares during the period. Apple comprises approximately 5.7% of abrdn plc's investment portfolio, making the stock its 2nd largest holding. abrdn plc owned approximately 0.08% of Apple worth $3,030,004,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its position in shares of Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker's stock valued at $787,631,000 after acquiring an additional 588,427 shares in the last quarter. Thomasville National Bank raised its stake in Apple by 6.6% in the 3rd quarter. Thomasville National Bank now owns 264,740 shares of the iPhone maker's stock valued at $61,684,000 after purchasing an additional 16,478 shares during the last quarter. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Svenska Handelsbanken AB publ acquired a new stake in Apple during the 3rd quarter worth $32,146,000. Finally, Orca Investment Management LLC grew its holdings in shares of Apple by 5.6% during the third quarter. Orca Investment Management LLC now owns 40,046 shares of the iPhone maker's stock worth $9,331,000 after buying an additional 2,116 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Down 9.2 %
Shares of NASDAQ:AAPL traded down $20.70 during trading hours on Thursday, reaching $203.19. The stock had a trading volume of 103,138,666 shares, compared to its average volume of 55,024,413. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The firm's 50 day moving average is $230.55 and its 200-day moving average is $233.36. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 32.25, 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.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.49%. Apple's dividend payout ratio is currently 15.87%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on AAPL shares. KeyCorp restated an "underweight" rating and set a $200.00 price target on shares of Apple in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Apple from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Tigress Financial upped their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday. Finally, Barclays raised their target price on Apple from $183.00 to $197.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $245.26.
Get Our Latest Report on Apple
Insiders Place Their Bets
In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,451 shares of company stock valued at $40,818,720. 0.06% of the stock is owned by corporate insiders.
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.
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