InTrack Investment Management Inc. reduced its position in shares of Apple Inc. (NASDAQ: AAPL – Get a rating) by 4.9% during the 1st quarter, according to the company in its last filing with the SEC. The company held 37,384 shares of the iPhone maker after selling 1,919 shares during the quarter. Apple represents 5.3% of InTrack Investment Management Inc’s portfolio, making the stock its largest holding. InTrack Investment Management Inc’s holdings in Apple were worth $6,528,000 at the end of the last quarter.
Several other hedge funds have also recently changed their holdings in the company. State Street Corp increased its position in Apple shares by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Geode Capital Management LLC increased its position in Apple shares by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker valued at $46,812,958,000 after purchasing an additional 4,456,954 shares during the period. Norges Bank acquired a new position in shares of Apple during the 4th quarter with a value of $25,228,507,000. Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC increased its position in Apple shares by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker valued at $11,361,302,000 after purchasing an additional 3,096,696 shares during the period. Institutional investors hold 57.98% of the company’s shares.
Apple broth opened at $138.93 on Friday. The company has a debt ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The company’s 50-day simple moving average is $145.41 and its 200-day simple moving average is $160.94. The company has a market capitalization of $2.25 trillion, a PE ratio of 22.55, a PEG ratio of 1.86 and a beta of 1.20. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94.
Apple (NASDAQ: AAPL – Get a rating) last released its quarterly earnings data on Thursday, April 28. The iPhone maker reported EPS of $1.52 for the quarter, beating analyst consensus estimates of $1.43 by $0.09. The company posted revenue of $97.28 billion for the quarter, versus analyst estimates of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s revenue for the quarter increased 8.6% year over year. During the same period a year earlier, the company posted earnings per share of $1.40. Research analysts expect Apple Inc. to post earnings per share of 6.11 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday, May 9 received a dividend of $0.23. The ex-dividend date was Friday, May 6. This is a positive change from Apple’s previous quarterly dividend of $0.22. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 0.66%. Apple’s payout ratio is currently 14.94%.
Apple announced that its board authorized a stock repurchase plan on Thursday, April 28 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 plans are usually a sign that a company’s management believes its stock is undervalued.
Several research companies have recently weighed in on AAPL. Bank of America cut its price target on Apple from $215.00 to $200.00 and set a “buy” rating for the company in a Thursday, May 19 research note. Piper Sandler reduced her price target on Apple from $200.00 to $195.00 in a Friday, April 29 research note. Rosenblatt Securities cut its price target on Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a Monday, May 2 research note. UBS Group set a price target of $185.00 on Apple in a research note on Tuesday, June 21. Finally, Loop Capital reduced its price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a Wednesday, May 25 research note. Nine analysts gave the stock a hold rating, twenty-four gave the company a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.64.
In related news, please Katherine L. Adams sold 25,000 Apple shares in a trade dated 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 sale, the senior vice president now directly owns 452,334 shares of the company, valued at $73,151,454.48. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, SVP Deirdre O’brien sold 29,198 Apple shares in a trade dated Monday, April 4. The stock was sold at an average price of $177.77, for a total value of $5,190,528.46. Following the sale, the senior vice president now directly owns 136,290 shares of the company, valued at $24,228,273.30. Disclosure of this sale can be found here. Insiders sold 168,099 shares of the company worth $29,376,711 during the last quarter. 0.06% of the shares are currently held by insiders.
About Apple (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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