Capital World Investors Has $1.16 Billion Stock Position in Apple Inc. (NASDAQ:AAPL)
Capital World Investors reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,566,060 shares of the iPhone maker’s stock after selling 112,923 shares during the quarter. Capital World Investors owned 0.11% of Apple worth $1,161,103,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd grew its holdings in shares of Apple by 2,180.0% during the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 109 shares during the last quarter. Stralem & Co. Inc. bought a new position in shares of Apple during the first quarter valued at about $39,000. Sycomore Asset Management bought a new position in shares of Apple during the first quarter valued at about $50,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Apple during the fourth quarter valued at about $117,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Apple during the fourth quarter valued at about $129,000. Hedge funds and other institutional investors own 62.04% of the company’s stock.
A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Apple from $370.00 to $405.00 and gave the company a “buy” rating in a research report on Friday, June 19th. Wedbush raised their price target on shares of Apple from $375.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Piper Sandler raised their price target on shares of Apple from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Canaccord Genuity lifted their price objective on shares of Apple from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, DA Davidson lowered their price objective on shares of Apple from $370.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $326.64.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, topping the Zacks’ 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 business had revenue of $58.31 billion during the quarter, compared to analysts’ expectations of $54.64 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 12.32 earnings per share for the current fiscal year.
In other Apple news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 9,137 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total transaction of $2,605,141.44. The disclosure for this sale can be found here. In the last three months, insiders sold 95,752 shares of company stock valued at $24,750,125. Corporate insiders own 0.05% of the company’s stock.
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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