Bill & Melinda Gates Foundation Trust Acquires New Position in Apple Inc. (NASDAQ:AAPL)

Bill & Melinda Gates Foundation Trust bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 501,044 shares of the iPhone maker’s stock, valued at approximately $127,410,000. Apple accounts for about 0.7% of Bill & Melinda Gates Foundation Trust’s investment portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd increased its position in Apple by 2,180.0% during the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 109 shares during the period. Stralem & Co. Inc. purchased a new position in Apple during the 1st quarter valued at about $39,000. Sycomore Asset Management purchased a new position in Apple during the 1st quarter valued at about $50,000. Sofos Investments Inc. increased its position in Apple by 16.9% during the 1st quarter. Sofos Investments Inc. now owns 940 shares of the iPhone maker’s stock valued at $99,000 after purchasing an additional 136 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in Apple during the 4th quarter valued at about $117,000. 62.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ AAPL opened at $361.78 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. Apple Inc. has a 12 month low of $192.58 and a 12 month high of $372.38. The company has a 50 day simple moving average of $331.04 and a two-hundred day simple moving average of $299.26. The stock has a market cap of $1,532.75 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.61 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.29. Apple had a net margin of 21.35% and a return on equity of 64.49%. The firm had revenue of $58.31 billion during the quarter, compared to analysts’ expectations of $54.64 billion. During the same period in the previous year, the business posted $2.46 EPS. The business’s revenue was up .5% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 12.32 EPS for the current year.

In related news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the transaction, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 9,137 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total transaction of $2,605,141.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,752 shares of company stock valued at $24,750,125. Company insiders own 0.05% of the company’s stock.

AAPL has been the topic of a number of analyst reports. Loop Capital lifted their price objective on shares of Apple from $280.00 to $330.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Royal Bank of Canada raised shares of Apple to an “outperform” rating and lifted their price objective for the stock from $345.00 to $390.00 in a research report on Wednesday, June 17th. They noted that the move was a valuation call. DA Davidson cut their price objective on shares of Apple from $370.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Cascend Securities cut their price objective on shares of Apple from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Wedbush lifted their price objective on shares of Apple from $375.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. 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 stock. Apple presently has a consensus rating of “Buy” and a consensus target price of $326.64.

About Apple

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.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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