China Universal Asset Management Co. Ltd. increases holdings in Apple Inc. (NASDAQ:AAPL)

VaselineAugust 24, 2024

0 5 minutes read

China Universal Asset Management Co. Ltd. increased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 127.4% during the first quarter, Holdings Channel reports. The institutional investor owned 75,479 shares of the iPhone maker’s stock after acquiring an additional 42,282 shares during the quarter. Apple owns 1.6% of China Universal Asset Management Co’s holdings. Ltd., making the stock the 14th largest. Holdings held by China Universal Asset Management Co. Ltd.’s holdings in Apple were worth $12,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Christopher J. Hasenberg Inc acquired a new position in Apple in the first quarter valued at approximately $35,000. AP Gilfoyle & Co. LP purchased a new position in shares of Apple during the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC lifted its position in Apple by 168.0% during the fourth quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock worth $52,000 after purchasing an additional 168 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Apple in the fourth quarter valued at approximately $85,000. 60.41% of the shares are owned by institutional investors and hedge funds.

Analysts set new price targets

A number of research firms recently issued reports on AAPL. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Monday, August 5th. Monness Crespi & Hardt upped their target price on shares of Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Maxim Group boosted their target price on shares of Apple from $195.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, August 6th. Finally, Robert W. Baird lifted their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Want more great investment ideas?

Read the latest stock report on AAPL

Insider trading at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold 188,884 shares of company stock worth $38,092,387 in the last quarter. 0.06% of shares are currently held by corporate insiders.

Apple stock down 0.8%

Apple stock opened at $224.53 on Friday. The stock’s 50-day moving average price is $220.03 and its 200-day moving average price is $194.13. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a market cap of $3.44 trillion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04, and a quick ratio of 0.99.

Apple (NASDAQ:AAPL – Get Free Report ) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. In the same quarter last year, the firm posted EPS of $1.26. The company’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 15.55%.

Apple announced that its board has approved a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Apple Company Profile

(Free report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.