TIAA CREF Investment Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,144,522 shares of the iPhone maker’s stock after buying an additional 454,086 shares during the quarter. Apple comprises approximately 3.9% of TIAA CREF Investment Management LLC’s investment portfolio, making the stock its biggest holding. TIAA CREF Investment Management LLC owned 0.53% of Apple worth $5,901,864,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AAPL. Selective Wealth Management acquired a new position in shares of Apple in the third quarter valued at $194,000. Lawson Kroeker Investment Management Inc. NE acquired a new position in shares of Apple in the third quarter valued at $201,000. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Apple in the third quarter valued at $201,000. Boston Standard Wealth Management LLC acquired a new position in shares of Apple in the third quarter valued at $204,000. Finally, Diversified Investment Strategies LLC acquired a new position in shares of Apple in the second quarter valued at $206,000. 56.40% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total value of $255,086.91. Following the completion of the transaction, the director now owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.17 by $0.01. The firm had revenue of $84.31 billion during the quarter, compared to analysts’ expectations of $84.07 billion. Apple had a net margin of 22.72% and a return on equity of 50.92%. As a group, equities analysts predict that Apple Inc. will post 11.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, February 11th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 8th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is currently 24.52%.
Several equities analysts have commented on AAPL shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $228.00 price objective on shares of Apple in a report on Friday, January 11th. Royal Bank of Canada restated a “buy” rating and issued a $185.00 price target on shares of Apple in a research note on Friday, January 18th. Rosenblatt Securities set a $165.00 price target on shares of Apple and gave the company a “neutral” rating in a research note on Thursday, December 6th. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $145.69 price target on the stock. in a research note on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Apple has an average rating of “Hold” and an average target price of $193.19.
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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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