Parkside Advisors LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)
Parkside Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,714 shares of the iPhone maker’s stock after buying an additional 1,081 shares during the period. Apple comprises about 1.4% of Parkside Advisors LLC’s holdings, making the stock its 14th largest holding. Parkside Advisors LLC’s holdings in Apple were worth $4,121,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can purchased a new position in Apple in the third quarter valued at $1,890,884,000. Barclays PLC boosted its holdings in Apple by 53.0% in the third quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock valued at $4,178,590,000 after purchasing an additional 10,471,342 shares during the period. Legal & General Group Plc boosted its holdings in Apple by 8.2% in the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after purchasing an additional 9,411,018 shares during the period. Vanguard Group Inc. boosted its holdings in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in Apple by 12.1% in the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after purchasing an additional 8,716,964 shares during the period. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on AAPL. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Friday, March 10th. JPMorgan Chase & Co. set a $175.00 target price on Apple in a report on Wednesday, March 1st. Credit Suisse Group set a $184.00 target price on Apple in a report on Monday, February 6th. Oppenheimer decreased their target price on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, December 12th. Finally, Barclays lifted their price target on Apple from $133.00 to $145.00 and gave the stock an “equal weight” rating in a report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $168.24.
Apple Stock Performance
Shares of AAPL stock opened at $155.00 on Friday. The stock has a market capitalization of $2.45 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.30. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The stock’s 50-day moving average price is $146.64 and its 200 day moving average price is $145.32. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion during the quarter, compared to analyst estimates of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6.04 EPS for the current year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is currently 15.62%.
Apple Company Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
See Also
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