Sloy Dahl & Holst LLC Has $62.35 Million Position in Apple Inc. (NASDAQ:AAPL)

Sloy Dahl & Holst LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 363,624 shares of the iPhone maker’s stock after selling 35,948 shares during the quarter. Apple accounts for about 14.7% of Sloy Dahl & Holst LLC’s investment portfolio, making the stock its 2nd largest position. Sloy Dahl & Holst LLC’s holdings in Apple were worth $62,354,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Apple in the fourth quarter worth approximately $33,912,466,000. International Assets Investment Management LLC grew its position in Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares in the last quarter. Vanguard Group Inc. grew its position in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Global Assets Advisory LLC grew its position in Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after purchasing an additional 9,200,345 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after purchasing an additional 5,331,439 shares during the period. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Oppenheimer lifted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their price target on shares of Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Piper Sandler upped their price objective on shares of Apple from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $216.00 price objective on shares of Apple in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $218.43.

Apple Stock Up 1.3 %

Shares of AAPL stock opened at $230.54 on Monday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $233.08. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.54 trillion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.24. The stock has a 50 day moving average of $203.00 and a 200-day moving average of $187.44.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. On average, equities analysts predict that Apple Inc. will post 6.59 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple declared that its board has initiated a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apple news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.