Apple Inc. $AAPL is Tobam’s 6th Largest Position

Tobam boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 1,033.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,446 shares of the iPhone maker’s stock after acquiring an additional 26,847 shares during the quarter. Apple makes up about 2.0% of Tobam’s portfolio, making the stock its 6th biggest position. Tobam’s holdings in Apple were worth $8,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Overbrook Management Corp boosted its position in Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after acquiring an additional 38,174 shares in the last quarter. Torren Management LLC bought a new position in shares of Apple in the 4th quarter worth $1,178,000. Tufton Capital Management raised its position in shares of Apple by 4.3% in the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock worth $25,496,000 after acquiring an additional 4,157 shares in the last quarter. Adventist Health System Sunbelt Healthcare Corp purchased a new stake in shares of Apple during the 4th quarter worth $105,482,000. Finally, KBC Group NV lifted its stake in shares of Apple by 3.1% during the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after purchasing an additional 214,215 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $298.01 on Monday. Apple Inc. has a fifty-two week low of $196.85 and a fifty-two week high of $317.40. The company has a market cap of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The business has a 50-day simple moving average of $289.73 and a two-hundred day simple moving average of $272.91.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the business earned $1.65 EPS. Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is presently 13.06%.

Insider Activity at Apple

In other Apple news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 97,875 shares of company stock valued at $24,998,541 over the last three months. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Evercore reiterated an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Rosenblatt Securities reissued a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. Citigroup restated a “buy” rating on shares of Apple in a report on Monday, June 1st. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Finally, Morgan Stanley set a $325.00 target price on shares of Apple in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.59.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.