Piscataqua Savings Bank increased its holdings in Apple Inc. (NASDAQ: AAPL – Get Rating) by 1.5% in Q1, according to its most recent filing with the Securities and Exchange Commission. The company held 47,546 shares of the iPhone maker after acquiring an additional 684 shares during the quarter. Apple represents 5.9% of Piscataqua Savings Bank’s portfolio, making the stock its second largest holding. Piscataqua Savings Bank’s holdings in Apple were worth $8,302,000 when it last filed with the SEC.
Several other institutional investors and hedge funds also bought and sold shares of the company. State Street Corp increased its position in Apple shares 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 during the period. Geode Capital Management LLC increased its position in Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker worth $46,812,958,000 after purchasing an additional 4,456,954 shares during the period. Norges Bank bought a new position in Apple in the fourth quarter worth $25,228,507,000. Charles Schwab Investment Management Inc. raised its position in Apple by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker worth $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 by 5.1% in the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker worth $11,361,302,000 after purchasing an additional 3,096,696 shares during the period. 57.98% of the shares are held by institutional investors.
In other news, SVP Deirdre O’brien sold 8,000 Apple shares in a trade that took place 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 directly owns 136,290 shares of the company, valued at $22,475,583.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, SVP Katherine L. Adams sold 25,000 shares 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. As a result of the transaction, the senior vice president now owns 452,334 shares of the company, valued at approximately $73,151,454.48. The disclosure of this sale can be found here. 0.06% of the shares are currently held by insiders.
Several research analysts have recently commented on the company. StockNews.com supported Apple’s coverage in a research report on Thursday, March 31. They issued a “holding” rating for the company. Oppenheimer reaffirmed an “outperform” rating and posted a target price of $190.00 on Apple shares in a research report on Wednesday, June 8. Piper Sandler reduced her target price on Apple from $200.00 to $195.00 in a Friday, April 29 research report. UBS Group set a target price of $185.00 on Apple in a Tuesday, June 21 research report. Finally, Sanford C. Bernstein set a price target of $170.00 on Apple in a Monday, May 2 research note. Nine research analysts gave the stock a hold rating, twenty-four issued a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.83.
AAPL shares opened at $142.92 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt ratio of 1.53. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market capitalization of $2.31 trillion, a P/E ratio of 23.20, a price-to-earnings growth ratio of 1.82 and a beta of 1.19. The stock’s 50-day moving average price is $144.35 and its two-hundred-day moving average price is $160.38.
Apple (NASDAQ:AAPL – Get Rating) last released its results on Thursday, April 28. The iPhone maker reported earnings per share (EPS) of $1.52 for the quarter, beating analyst consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company posted revenue of $97.28 billion for the quarter, versus $93.99 billion expected by analysts. In the same quarter last year, the company made earnings per share of $1.40. The company’s revenue increased by 8.6% compared to the same quarter last year. As a group, stock analysts expect Apple Inc. to post EPS of 6.1 for the current year.
Apple announced that its board of directors launched a stock repurchase program 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 programs often indicate that the company’s management believes its stock is undervalued.
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 per share. This represents an annualized dividend of $0.92 and a dividend yield of 0.64%. The ex-dividend date was Friday, May 6. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is 14.94%.
Apple Company Profile (Get an evaluation)
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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