Mediolanum International Funds Ltd Buys 217,361 Shares of Apple Inc. $AAPL

Mediolanum International Funds Ltd increased its stake in Apple Inc. (NASDAQ:AAPL) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,399,089 shares of the iPhone maker’s stock after purchasing an additional 217,361 shares during the quarter. Apple makes up 6.3% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 2nd largest holding. Mediolanum International Funds Ltd’s holdings in Apple were worth $591,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Reyes Financial Architecture Inc. lifted its position in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares in the last quarter. WESPAC Advisors LLC grew its position in Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after purchasing an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. lifted its holdings in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC boosted its position in shares of Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after buying an additional 40 shares during the period. Finally, Orion Investment Co grew its holdings in shares of Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $303.42 on Tuesday. The firm has a market cap of $4.46 trillion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. The company’s fifty day moving average is $309.40 and its 200-day moving average is $281.90. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12 month low of $201.68 and a 12 month high of $344.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 EPS. Equities analysts expect that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday. Oppenheimer restated a “market perform” rating on shares of Apple in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Finally, HSBC upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their price target for the company from $260.00 to $366.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.60.

Apple Company 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.