BI Asset Management Fondsmaeglerselskab A S Has $522.93 Million Stake in Apple Inc. $AAPL

BI Asset Management Fondsmaeglerselskab A S decreased its position in Apple Inc. (NASDAQ:AAPL) by 9.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,086,741 shares of the iPhone maker’s stock after selling 213,037 shares during the period. Apple comprises 5.5% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 3rd biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Apple were worth $522,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. grew its position in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp increased its stake in Apple by 1.1% in the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after buying an additional 6,555,392 shares during the last quarter. Geode Capital Management LLC lifted its position in Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after buying an additional 1,866,103 shares in the last quarter. Morgan Stanley boosted its stake in shares of Apple by 0.6% during the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after buying an additional 1,379,651 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Apple during the 4th quarter worth about $52,266,468,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Tigress Financial reaffirmed a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Bank of America reissued a “buy” rating and issued a $380.00 price objective on shares of Apple in a report on Thursday, June 18th. Moffett Nathanson raised their target price on shares of Apple from $241.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Evercore restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Finally, TD Cowen boosted their price objective on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

Apple Price Performance

NASDAQ:AAPL opened at $293.05 on Thursday. The company has a market cap of $4.30 trillion, a P/E ratio of 35.44, a P/E/G ratio of 2.56 and a beta of 1.09. The firm’s fifty day moving average price is $291.83 and its two-hundred day moving average price is $273.15. Apple Inc. has a one year low of $199.26 and a one year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is 13.06%.

Apple 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.