GAM Holding AG cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 159,970 shares of the iPhone maker's stock after selling 2,264 shares during the period. Apple accounts for approximately 3.0% of GAM Holding AG's portfolio, making the stock its 6th biggest holding. GAM Holding AG's holdings in Apple were worth $37,273,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in AAPL. China Universal Asset Management Co. Ltd. lifted its position in Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker's stock worth $12,943,000 after buying an additional 42,282 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Apple by 2.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker's stock valued at $130,629,000 after buying an additional 17,519 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Apple during the first quarter worth $21,747,000. KLCM Advisors Inc. grew its holdings in shares of Apple by 3.4% in the 1st quarter. KLCM Advisors Inc. now owns 72,775 shares of the iPhone maker's stock valued at $12,479,000 after acquiring an additional 2,373 shares in the last quarter. Finally, Garner Asset Management Corp increased its position in shares of Apple by 9.5% during the 1st quarter. Garner Asset Management Corp now owns 42,324 shares of the iPhone maker's stock worth $7,258,000 after purchasing an additional 3,674 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Price Performance
NASDAQ AAPL traded up $4.70 during trading on Friday, reaching $254.49. The company's stock had a trading volume of 145,580,875 shares, compared to its average volume of 57,671,145. The stock has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a fifty day moving average of $234.97 and a 200 day moving average of $225.48. Apple Inc. has a one year low of $164.07 and a one year high of $255.00.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. Analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio is currently 16.45%.
Analysts Set New Price Targets
A number of brokerages have weighed in on AAPL. Barclays lowered their price target on Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, November 1st. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Bank of America boosted their target price on shares of Apple to $256.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. UBS Group reissued a "neutral" rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $236.78.
Check Out Our Latest Stock Report on Apple
Insiders Place Their Bets
In related news, CEO Timothy D. Cook sold 223,986 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the company's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company's stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 over the last three months. Insiders own 0.06% of the company's stock.
Apple Profile
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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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