New Capital Management LP boosted its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,507 shares of the iPhone maker’s stock after purchasing an additional 581 shares during the quarter. Apple comprises approximately 9.9% of New Capital Management LP’s portfolio, making the stock its 3rd biggest holding. New Capital Management LP’s holdings in Apple were worth $7,292,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Korea Investment CORP grew its position in Apple by 6.3% during the fourth quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock valued at $1,102,083,000 after acquiring an additional 221,800 shares during the last quarter. Atlas Private Wealth Management bought a new position in Apple during the fourth quarter valued at approximately $4,730,000. Blair William & Co. IL grew its position in Apple by 2.0% during the fourth quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock valued at $754,128,000 after acquiring an additional 49,316 shares during the last quarter. Altshuler Shaham Ltd grew its position in 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 acquiring an additional 109 shares during the last quarter. Finally, Capital International Ltd. CA grew its position in Apple by 37.6% during the fourth quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock valued at $4,713,000 after acquiring an additional 4,382 shares during the last quarter. 62.04% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Deirdre O’brien sold 9,137 shares of Apple stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the sale, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
AAPL has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of Apple from $320.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Citigroup raised their target price on shares of Apple from $310.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Daiwa Capital Markets raised their target price on shares of Apple from $297.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler raised 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. Finally, Cowen raised their target price on shares of Apple from $335.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $329.38.
Shares of AAPL traded up $6.62 during trading hours on Wednesday, hitting $379.31. The company had a trading volume of 17,844,309 shares, compared to its average volume of 37,403,880. The firm has a fifty day moving average price of $339.92 and a 200-day moving average price of $302.89. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50. The stock has a market capitalization of $1,641.26 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.76 and a beta of 1.18. Apple Inc. has a 52-week low of $192.58 and a 52-week high of $372.38.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion during the quarter, compared to analyst estimates of $54.64 billion. Apple had a return on equity of 64.49% and a net margin of 21.35%. Apple’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. Research analysts anticipate that Apple Inc. will post 12.32 earnings per share for the current fiscal year.
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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