Apple Inc. (NASDAQ:AAPL) Stake Lowered by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. lowered its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 77,441 shares of the iPhone maker’s stock after selling 719 shares during the quarter. Apple comprises 3.2% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 4th biggest holding. EFG Asset Management Americas Corp.’s holdings in Apple were worth $14,910,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wyrmwood Management LLC boosted its position in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC boosted its position in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp boosted its position in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares during the period. Cordant Inc. boosted its position in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of Apple in the 4th quarter valued at about $111,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,270 shares of company stock valued at $64,605,696. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $192.35 on Wednesday. The stock has a 50-day moving average price of $174.87 and a two-hundred day moving average price of $182.88. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market cap of $2.95 trillion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 2.28 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.57 EPS for the current year.

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a research report on Monday, April 29th. Citigroup decreased their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Loop Capital cut their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Finally, Canaccord Genuity Group increased their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.71.

View Our Latest Stock Report on Apple

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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