Apple Inc. (NASDAQ:AAPL) is Alliancebernstein L.P.’s 5th Largest Position

Alliancebernstein L.P. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,801,881 shares of the iPhone maker’s stock after selling 1,949,011 shares during the period. Apple accounts for approximately 2.1% of Alliancebernstein L.P.’s holdings, making the stock its 5th biggest holding. Alliancebernstein L.P. owned approximately 0.23% of Apple worth $4,739,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Apple during the 4th quarter valued at $22,236,319,000. FMR LLC lifted its holdings in shares of Apple by 3.4% during the 4th quarter. FMR LLC now owns 358,551,697 shares of the iPhone maker’s stock valued at $47,576,225,000 after acquiring an additional 11,852,200 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Apple by 9,693.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 7,778,120 shares of the iPhone maker’s stock valued at $123,000 after acquiring an additional 7,698,699 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Apple by 4.6% during the 4th quarter. Morgan Stanley now owns 130,352,438 shares of the iPhone maker’s stock valued at $17,296,465,000 after acquiring an additional 5,738,590 shares in the last quarter. Finally, Oak Ridge Investments LLC lifted its holdings in shares of Apple by 1,041.0% during the 1st quarter. Oak Ridge Investments LLC now owns 6,118,670 shares of the iPhone maker’s stock valued at $747,396,000 after acquiring an additional 5,582,423 shares in the last quarter. 56.33% of the stock is owned by institutional investors.

In related news, SVP Deirdre O’brien sold 18,216 shares of the stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $134.01, for a total transaction of $2,441,126.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 133,867 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $125.74, for a total transaction of $16,832,436.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,155 shares of company stock valued at $37,610,735. Company insiders own 0.06% of the company’s stock.

Several research firms recently weighed in on AAPL. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating and set a $128.00 target price on the stock. in a report on Tuesday, March 30th. New Street Research lowered shares of Apple from a “neutral” rating to a “sell” rating and set a $90.00 price objective on the stock. in a report on Friday, May 28th. Barclays cut their price objective on shares of Apple from $138.00 to $134.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 19th. Evercore ISI boosted their price objective on shares of Apple from $163.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, March 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apple from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $148.91.

Shares of NASDAQ:AAPL opened at $126.11 on Friday. The stock has a 50 day moving average of $128.66. The firm has a market cap of $2.10 trillion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 1.91 and a beta of 1.21. Apple Inc. has a twelve month low of $83.14 and a twelve month high of $145.09. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 1.57.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.41. The company had revenue of $89.58 billion during the quarter, compared to analyst estimates of $76.84 billion. Apple had a net margin of 23.45% and a return on equity of 111.80%. The business’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Equities analysts forecast that Apple Inc. will post 5.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Monday, May 10th were paid a $0.22 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, May 7th. Apple’s dividend payout ratio is currently 26.83%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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