Campbell Newman Asset Management Inc. Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Campbell Newman Asset Management Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 397,462 shares of the iPhone maker’s stock after selling 5,141 shares during the quarter. Apple accounts for 6.6% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. Campbell Newman Asset Management Inc.’s holdings in Apple were worth $76,523,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AAPL. International Assets Investment Management LLC lifted its holdings in Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in Apple in the fourth quarter valued at about $560,388,000. Hudson Bay Capital Management LP bought a new position in Apple in the third quarter valued at about $487,435,000. Barclays PLC lifted its holdings in Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in Apple in the third quarter valued at about $461,021,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $169.30 on Friday. The stock has a market capitalization of $2.61 trillion, a PE ratio of 26.37, a P/E/G ratio of 2.05 and a beta of 1.27. The business has a 50 day simple moving average of $173.04 and a two-hundred day simple moving average of $181.81. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. On average, research analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is 14.95%.

Analysts Set New Price Targets

A number of brokerages have commented on AAPL. Piper Sandler reduced their price target on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. The Goldman Sachs Group upped their price target on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays restated an “underweight” rating and issued a $158.00 price target on shares of Apple in a research report on Tuesday, April 23rd. DA Davidson began coverage on Apple in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price target for the company. Finally, UBS Group restated a “hold” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.