Sarasin & Partners LLP Purchases 44,048 Shares of Apple Inc. (NASDAQ:AAPL)

Sarasin & Partners LLP boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 15.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,482 shares of the iPhone maker’s stock after purchasing an additional 44,048 shares during the period. Sarasin & Partners LLP’s holdings in Apple were worth $66,794,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Centaurus Financial Inc. increased its stake in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of Apple during the fourth quarter valued at about $50,000. NuWave Investment Management LLC increased its holdings in shares of Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 449 shares in the last quarter. INR Advisory Services LLC acquired a new position in shares of Apple during the fourth quarter valued at about $124,000. Finally, CKW Financial Group increased its holdings in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 58.65% of the company’s stock.

Several research firms have recently issued reports on AAPL. BidaskClub downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Tuesday. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price target (up previously from $245.00) on shares of Apple in a report on Wednesday, July 31st. Argus increased their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Cowen increased their price target on shares of Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $217.49.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Shares of NASDAQ:AAPL traded down $1.00 during midday trading on Wednesday, reaching $196.00. 7,684,490 shares of the company’s stock were exchanged, compared to its average volume of 24,797,644. The stock has a 50 day moving average price of $203.09. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $922.00 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $2.34 EPS. On average, analysts expect that Apple Inc. will post 11.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, August 9th. Apple’s dividend payout ratio is currently 25.86%.

Apple announced that its board has authorized a stock repurchase program on Tuesday, April 30th that allows the company to buyback $75.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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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