Curbstone Financial Management Corp reduced its position in shares of Apple Inc. (NASDAQ: AAPL – Get a rating) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor held 95,103 shares of the iPhone maker after selling 869 shares during the quarter. Apple accounts for about 3.1% of Curbstone Financial Management Corp’s holdings, making the stock its 4th largest position. Curbstone Financial Management Corp’s holdings in Apple were worth $16,606,000 at the end of the last reporting period.
A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker valued at $112,422,274,000 after acquiring an additional 10,951,705 shares last quarter. Geode Capital Management LLC increased its holdings of Apple shares by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker valued at $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank bought a new position in Apple stock during the fourth quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. increased its holdings of Apple shares by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker valued at $14,131,710,000 after buying an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Apple shares by 5.1% during the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker valued at $11,361,302,000 after buying an additional 3,096,696 shares in the last quarter. 57.98% of the shares are currently held by institutional investors and hedge funds.
AAPL has been the subject of several recent research reports. JPMorgan Chase & Co. set a target price of $200.00 on Apple shares in a Friday, July 1 report. Rosenblatt Securities lowered its price target on Apple shares from $184.00 to $168.00 and set a “neutral” rating for the company in a Monday, May 2 report. Sanford C. Bernstein set a price target of $170.00 on Apple stock in a Monday, May 2 report. StockNews.com supposed coverage of Apple shares in a Thursday, March 31 report. They issued a “holding” rating for the company. Finally, Piper Sandler lowered her price target on Apple shares from $200.00 to $195.00 in a Friday, April 29 report. Nine equity research analysts gave the stock a hold rating, twenty-four issued a buy rating and one issued a strong buy rating for the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.83.
In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the company in a trade on Monday, April 18. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the sale, the senior vice president now owns 136,290 shares of the company, valued at approximately $22,475,583.90. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Also, please Katherine L. Adams sold 25,000 shares of the company in a trade on Wednesday, May 4. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company, valued at approximately $73,151,454.48. Disclosure of this sale can be found here. Company insiders own 0.06% of the company’s shares.
Shares of Apple broth opened at $146.35 on Friday. The company has a market capitalization of $2.37 trillion, a P/E ratio of 23.76, a P/E/G ratio of 1.86 and a beta of 1.19. The company has a debt ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The company has a fifty-day moving average of $144.01 and a 200-day moving average of $160.21. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.
Apple (NASDAQ: AAPL – Get a rating) last released its results on Thursday, April 28. The iPhone maker reported earnings per share of $1.52 for the quarter, beating the consensus estimate of $1.43 by $0.09. The company posted revenue of $97.28 billion in the quarter, versus a consensus estimate of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. Apple’s quarterly revenue increased 8.6% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $1.40. Analysts expect Apple Inc. to post EPS of 6.1 for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 12. Investors of record on Monday, May 9 received a dividend of $0.23. The ex-dividend date was Friday, May 6. This represents an annualized dividend of $0.92 and a yield of 0.63%. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is currently 14.94%.
Apple announced that its board of directors on Thursday (April 28th) approved a stock repurchase program that allows the company to repurchase $90.00 billion in outstanding stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs often indicate that the company’s management believes its stock is undervalued.
Apple Profile (Get a rating)
Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
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