Handelsbanken Fonder AB Acquires 366,165 Shares of Apple Inc. (NASDAQ:AAPL)

Handelsbanken Fonder AB grew its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,828,169 shares of the iPhone maker’s stock after purchasing an additional 366,165 shares during the period. Apple accounts for 5.5% of Handelsbanken Fonder AB’s portfolio, making the stock its 2nd biggest position. Handelsbanken Fonder AB’s holdings in Apple were worth $1,122,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Conservest Capital Advisors Inc. lifted its stake in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares in the last quarter. Flagstone Financial Management lifted its stake in Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 56 shares in the last quarter. High Pines Wealth Management LLC lifted its stake in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares in the last quarter. Asset Planning Corporation lifted its stake in Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares in the last quarter. Finally, Columbus Macro LLC lifted its stake in Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on AAPL shares. Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a research note on Monday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Apple in a research report on Friday, May 3rd. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Apple in a research report on Friday, February 2nd. DZ Bank reissued a “hold” rating and issued a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price target on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.71.

View Our Latest Research Report on AAPL

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly 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 SEC, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly 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 SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,270 shares of company stock worth $64,605,696. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.7 %

Shares of Apple stock opened at $192.35 on Wednesday. The company’s fifty day simple moving average is $174.87 and its 200-day simple moving average is $182.88. The company has a market cap of $2.95 trillion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.28 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.52 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 6.57 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Apple 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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