Cohen & Steers Inc. Boosts Position in Apple Inc. (NASDAQ:AAPL)

Cohen & Steers Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 59,514 shares of the iPhone maker’s stock after buying an additional 3,908 shares during the period. Cohen & Steers Inc.’s holdings in Apple were worth $9,388,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Command Financial Services Inc. grew its stake in shares of Apple by 1.8% in the third quarter. First Command Financial Services Inc. now owns 18,133 shares of the iPhone maker’s stock worth $4,093,000 after purchasing an additional 314 shares during the last quarter. Rossmore Private Capital grew its stake in shares of Apple by 19.5% in the third quarter. Rossmore Private Capital now owns 26,580 shares of the iPhone maker’s stock worth $6,000,000 after purchasing an additional 4,337 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Apple by 7.3% in the third quarter. Russell Investments Group Ltd. now owns 4,005,368 shares of the iPhone maker’s stock worth $903,218,000 after purchasing an additional 271,189 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Apple by 1.5% in the third quarter. Asset Dedication LLC now owns 16,990 shares of the iPhone maker’s stock worth $3,843,000 after purchasing an additional 253 shares during the last quarter. Finally, Baldwin Brothers Inc. MA grew its stake in shares of Apple by 0.9% in the third quarter. Baldwin Brothers Inc. MA now owns 153,474 shares of the iPhone maker’s stock worth $34,646,000 after purchasing an additional 1,323 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Luca Maestri sold 51,138 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the transaction, the insider now directly owns 27,448 shares of the company’s stock, valued at approximately $5,396,551.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the transaction, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The disclosure for this sale can be found here. Insiders have sold a total of 142,549 shares of company stock worth $29,300,960 in the last three months. Insiders own 0.05% of the company’s stock.

AAPL has been the topic of several analyst reports. Cowen reduced their price objective on shares of Apple from $245.00 to $220.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 4th. Credit Suisse Group set a $209.00 price objective on shares of Apple and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Wedbush reissued an “outperform” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Apple in a research note on Wednesday, May 1st. Jefferies Financial Group upped their price target on shares of Apple from $160.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, UBS Group upped their price target on shares of Apple from $185.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Apple presently has an average rating of “Hold” and an average price target of $207.57.

AAPL stock opened at $194.19 on Thursday. The stock has a market cap of $896.34 billion, a PE ratio of 16.38, a P/E/G ratio of 1.65 and a beta of 1.20. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.73 EPS. As a group, sell-side analysts expect that Apple Inc. will post 11.48 EPS for the current fiscal year.

Apple declared that its board has authorized a share buyback plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.73. Apple’s dividend payout ratio is 25.86%.

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Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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