BlackRock Fund Advisors recently announced the acquisition of new stake in Apple Inc (NASDAQ:AAPL). The institutional investor has increased its shareholding in the Technology company by 0.35% to 671.68 million shares with purchase of 2.34 million shares. This fresh investment now brings its stake to 4.32% valued currently at $129.32 billion. In addition, Geode Capital Management LLC raised its holdings by 4.56 million to 296.1 million shares. And Norges Bank Investment Management has lifted its position by 4.82% or 7.7 million shares – to 167.37 million shares.
Currently, there are 15.55B common shares owned by the public and among those 15.45B shares have been available to trade.
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Insiders at the company have transacted a total of 68 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 1,897,474 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 2,273,440 shares.
The top 3 mutual fund holders in Apple Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 463.75 million shares of the company’s stock, all valued at over $89.29 billion. The company sold -1.78 million shares recently to bring their total holdings to about 2.98% of the shares outstanding. Vanguard 500 Index Fund sold -1.21 million shares to see its total holdings shrink to 356.99 million shares valued at over $68.73 billion and representing 2.30% of the shares outstanding. SPDR S&P 500 ETF Trust sold -0.98 million shares to bring its total holdings to over 178.9 million shares at a value of $34.44 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.15% of the shares outstanding.
However, the script later moved the day high at 194.76, down -0.90%. The company’s stock has a 5-day price change of 0.45% and 12.46% over the past three months. AAPL shares are trading -0.06% year to date (YTD), with the 12-month market performance up to 35.64% higher. It has a 12-month low price of $141.32 and touched a high of $199.62 over the same period. AAPL has an average intraday trading volume of 54.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.22%, 0.91%, and 5.86% respectively.
Institutional ownership of Apple Inc (NASDAQ: AAPL) shares accounts for 61.10% of the company’s 15.55B shares outstanding. Mutual fund holders own 29.69%, while other institutional holders and individual stakeholders account for 31.11% and 0.35% respectively.
It has a market capitalization of $2975.18B and a beta (3y monthly) value of 1.31. The stock’s trailing 12-month PE ratio is 31.39, while the earnings-per-share (ttm) stands at $6.13. The company has a PEG of 5.11 and a Quick Ratio of 0.94 with the debt-to-equity ratio at 1.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.35% over the week and 1.48% over the month.
Analysts forecast that Apple Inc (AAPL) will achieve an EPS of $1.93 for the current quarter, $1.45 for the next quarter and $6.6 for 2025. The lowest estimate earnings-per-share for the quarter is $1.86 while analysts give the company a high EPS estimate of $1.99. Comparatively, EPS for the current quarter was $1.88 a year ago. Earnings per share for the fiscal year are expected to increase by 7.43%, and 8.52% over the next financial year. EPS should shrink at an annualized rate of 6.14% over the next five years, compared to 15.55% over the past 5-year period.
Looking at the support for the AAPL, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on January 18, 2024, with the firm’s price target at $208-$225.
