SEB Asset Management AB Takes Position in Apple Inc. $AAPL

SEB Asset Management AB purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 4,986,398 shares of the iPhone maker’s stock, valued at approximately $1,265,497,000. Apple makes up approximately 5.4% of SEB Asset Management AB’s holdings, making the stock its 2nd biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at about $65,000. Timmons Wealth Management LLC bought a new stake in Apple in the fourth quarter valued at about $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the fourth quarter valued at approximately $76,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AAPL shares. Royal Bank Of Canada set a $365.00 target price on Apple in a research report on Wednesday, July 15th. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Friday, April 17th. Raymond James Financial restated a “market perform” rating on shares of Apple in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Apple from $345.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $331.60.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.

Apple Stock Down 1.8%

NASDAQ:AAPL opened at $303.42 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $309.40 and a 200-day moving average of $281.90. The firm has a market capitalization of $4.46 trillion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. Apple Inc. has a 52 week low of $201.68 and a 52 week high of $344.57.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the business posted $1.57 EPS. The business’s revenue was up 16.4% on a year-over-year basis. Analysts predict that Apple Inc. will post 8.8 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.