Mediolanum International Funds Ltd lowered its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,166,610 shares of the iPhone maker’s stock after selling 69,356 shares during the period. Apple makes up 7.1% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its biggest position. Mediolanum International Funds Ltd’s holdings in Apple were worth $545,077,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. State Street Corp increased its position in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC raised its stake in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. FMR LLC lifted its holdings in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.
Apple Price Performance
AAPL stock opened at $221.53 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business has a 50-day simple moving average of $231.03 and a two-hundred day simple moving average of $233.35. The company has a market capitalization of $3.33 trillion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. Apple Inc. has a 52-week low of $164.08 and a 52-week high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.
Analyst Ratings Changes
Several research analysts recently issued reports on AAPL shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, February 19th. Bank of America lifted their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.65.
Check Out Our Latest Stock Analysis on Apple
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.
See Also
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