Davy Global Fund Management Ltd sells 1,758 shares of Apple Inc. (NASDAQ: AAPL)

Davy Global Fund Management Ltd reduced its stake in Apple Inc. (NASDAQ: AAPLGet a rating) by 24.7% in the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The company held 5,369 shares of the iPhone maker after selling 1,758 shares during the quarter. Davy Global Fund Management Ltd’s holdings in Apple were worth $937,000 when it last filed with the SEC.

A number of other hedge funds and other institutional investors have also recently changed their holdings in AAPL. Norges Bank bought a new position in Apple stock during Q4, valued at approximately $25,228,507,000. State Street Corp increased its position in Apple shares by 1.8% during 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Apple stock during Q4, valued at approximately $1,461,735,000. Capital Research Global Investors increased its position in Apple shares by 38.1% during the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker valued at $5,247,094,000 after acquiring an additional 8,154,171 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Apple by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker valued at $3,705,275,000 after purchasing an additional 6,154,422 shares during the period. 57.98% of the shares are currently held by institutional investors.

Apple price performance

Shares of NASDAQAAPL opened at $165.35 on Friday. The company has a debt ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market capitalization of $2.66 trillion, a PE ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. The company has a 50-day simple moving average of $146.34 and a two-hundred-day simple moving average of $157.06. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ: AAPLGet a rating) last reported quarterly earnings data on Thursday, July 28. The iPhone maker reported earnings per share (EPS) of $1.20 for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company posted revenue of $82.96 billion in the quarter, versus $82.97 billion expected by analysts. During the same period last year, the company posted earnings per share of $1.30. The company’s revenue for the quarter increased by 1.9% compared to the same quarter last year. As a group, stock analysts expect Apple Inc. to post 6.1 EPS for the current fiscal year.

Apple announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11. Shareholders of record on Monday August 8 will receive a dividend of $0.23. This represents an annualized dividend of $0.92 and a dividend yield of 0.56%. The ex-date of this dividend is Friday, August 5. Apple’s payout ratio is 15.18%.

Apple said its board on Thursday (April 28) authorized a stock repurchase plan that allows the company to repurchase $90.00 billion in 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 an indication that a company’s management believes its stock is undervalued.

Wall Street analysts predict growth

Several analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. set a price target of $200.00 on Apple in a Monday, July 25 report. Deutsche Bank Aktiengesellschaft set a target price of $175.00 on Apple in a Monday, August 1 research note. set a target price of $175.00 on Apple in a Friday July 29 research note. Itau BBA Securities began covering Apple in a research note on Tuesday, July 26. They issued an “underperforming” rating and a target price of $136.00 for the stock. Finally, Barclays cut its price target on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a Wednesday July 13 research note. Two research analysts rated the stock with a sell rating, eight issued a hold rating, twenty-three issued a buy rating and one gave the company a strong buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.27.

Insider trading at Apple

In other news, please Katherine L. Adams sold 25,000 shares of the company in a trade dated Wednesday, August 3. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following completion of the transaction, the Senior Vice President now directly owns 427,334 shares of the company, valued at $70,411,823.18. The sale was disclosed in an SEC filing, available at the SEC website. Insiders of the company hold 0.06% of the shares of the company.

Apple Profile

(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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Institutional ownership by quarter for Apple (NASDAQ:AAPL)

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