Handelsbanken Fonder AB lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.4% in the third quarter, Holdings Channel reports. The institutional investor owned 357,542 shares of the iPhone maker’s stock after acquiring an additional 27,600 shares during the quarter. Apple comprises approximately 1.6% of Handelsbanken Fonder AB’s holdings, making the stock its 16th largest position. Handelsbanken Fonder AB’s holdings in Apple were worth $80,079,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avondale Wealth Management boosted its position in Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after buying an additional 64 shares during the period. NuWave Investment Management LLC boosted its holdings in Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after buying an additional 449 shares in the last quarter. Horan Securities Inc. boosted its holdings in Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares in the last quarter. Belvedere Advisors LLC purchased a new stake in Apple during the second quarter worth about $119,000. Finally, C M Bidwell & Associates Ltd. boosted its holdings in Apple by 339.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.
In other news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the completion of the sale, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 465,658 shares of company stock worth $100,549,205 in the last three months. Insiders own 0.05% of the company’s stock.
A number of analysts recently commented on the stock. Monness Crespi & Hardt boosted their price objective on shares of Apple from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays boosted their price objective on shares of Apple from $224.00 to $236.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, October 29th. They noted that the move was a valuation call. Maxim Group reduced their price target on shares of Apple from $211.00 to $204.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. Finally, Cowen reaffirmed an “outperform” rating and issued a $290.00 price target (up previously from $250.00) on shares of Apple in a report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $239.51.
Shares of AAPL opened at $260.14 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.54. The company has a market capitalization of $1,142.50 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.83 and a beta of 1.25. The company’s 50 day simple moving average is $235.37 and its 200 day simple moving average is $209.53. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $260.44.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.19. The business had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a net margin of 21.24% and a return on equity of 53.82%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 earnings per share. Equities analysts expect that Apple Inc. will post 13.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 7th. Apple’s payout ratio is 25.90%.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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