Capital Research Global Investors Acquires 1,997,259 Shares of Apple Inc. (NASDAQ:AAPL)

Capital Research Global Investors boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 29.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,842,313 shares of the iPhone maker’s stock after purchasing an additional 1,997,259 shares during the quarter. Apple comprises approximately 0.9% of Capital Research Global Investors’ holdings, making the stock its 21st largest position. Capital Research Global Investors owned about 0.20% of Apple worth $2,248,512,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Altshuler Shaham Ltd boosted its stake 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. bought a new stake in shares of Apple in the 1st quarter worth approximately $39,000. Sycomore Asset Management bought a new stake in shares of Apple in the 1st quarter worth approximately $50,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Apple in the 4th quarter worth approximately $117,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Apple in the 4th quarter worth approximately $129,000. Hedge funds and other institutional investors own 62.04% of the company’s stock.

In other news, insider Chris Kondo sold 4,491 shares of the firm’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 9,137 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The disclosure for this sale can be found here. Insiders sold a total of 95,752 shares of company stock worth $24,750,125 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

NASDAQ AAPL opened at $361.78 on Tuesday. The stock has a fifty day moving average of $331.04 and a 200-day moving average of $299.26. The stock has a market capitalization of $1,532.75 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18. Apple Inc. has a 52 week low of $192.58 and a 52 week high of $372.38. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50.

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

A number of analysts have commented on the company. Deutsche Bank raised their price objective on Apple from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $350.00 price objective on shares of Apple in a research report on Friday, May 1st. Wedbush raised their price objective on Apple from $375.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Royal Bank of Canada upgraded Apple to an “outperform” rating and raised 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. Finally, Piper Sandler increased their target price on Apple from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $326.64.

Apple Company Profile

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: Net Income

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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