Apple Inc. (NASDAQ:AAPL) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 839,711 shares of the iPhone maker’s stock after selling 37,435 shares during the quarter. Apple accounts for about 6.4% of ClariVest Asset Management LLC’s portfolio, making the stock its 2nd largest holding. ClariVest Asset Management LLC’s holdings in Apple were worth $213,532,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of AAPL. Altshuler Shaham Ltd increased its position in Apple by 2,180.0% during the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares in the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the 4th quarter worth approximately $36,000. Stralem & Co. Inc. acquired a new position in Apple during the 1st quarter worth approximately $39,000. Sycomore Asset Management acquired a new position in Apple during the 1st quarter worth approximately $50,000. Finally, CXI Advisors acquired a new position in Apple during the 4th quarter worth approximately $68,000. Institutional investors own 59.49% of the company’s stock.
AAPL has been the subject of a number of research analyst reports. Daiwa Capital Markets upped their price objective on shares of Apple from $297.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. New Street Research raised shares of Apple from a “reduce” rating to a “neutral” rating in a report on Wednesday, January 29th. Piper Sandler boosted their target price on shares of Apple from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Thursday, January 30th. Finally, Cowen reissued a “buy” rating and set a $335.00 target price on shares of Apple in a report on Friday, May 1st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $301.00.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.29. Apple had a net margin of 21.35% and a return on equity of 64.49%. The firm had revenue of $58.31 billion for the quarter, compared to the consensus estimate of $54.64 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 12.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.82 per share. This is an increase from Apple’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, May 8th. This represents a $3.28 annualized dividend and a yield of 1.03%. Apple’s dividend payout ratio is presently 27.59%.
In other Apple news, SVP Deirdre O’brien sold 9,137 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total transaction of $2,605,141.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 41,062 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $264.44, for a total transaction of $10,858,435.28. Following the transaction, the chief financial officer now owns 65,427 shares in the company, valued at approximately $17,301,515.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,752 shares of company stock worth $24,750,125. Corporate insiders own 0.05% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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