{"id":22949,"date":"2023-06-15T08:24:42","date_gmt":"2023-06-15T12:24:42","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/apple-institutional-ownership-has-increased-ytd-bernstein\/"},"modified":"2023-06-15T08:24:43","modified_gmt":"2023-06-15T12:24:43","slug":"apple-institutional-ownership-has-increased-ytd-bernstein","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22949","title":{"rendered":"Apple institutional ownership has increased YTD – Bernstein"},"content":{"rendered":"
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\u00a9 Reuters. Apple (AAPL) institutional ownership has increased YTD – Bernstein<\/span>
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Bernstein analysts believe institutions being underweight Apple (NASDAQ:) and the tech giant’s buybacks could be uniquely helping the stock.<\/p>\n

The analysts, who have a Market Perform rating and $175 price target on AAPL shares, said that Apple has been a consistent repurchaser of its shares for the last decade, and its current buyback pace is ~3% of shares outstanding, compared with ~2.0% for the average top 25 stocks.<\/p>\n

Meanwhile, the iPhone maker “has an unusual ownership profile,” with active managers owning ~34% of the float, below the average of the top 25 stocks of 44%.<\/p>\n

“As a result, as assets move from active ownership to passive, this creates an incremental ‘buy bid’ on the stock. That said, our analysis suggests that this contributed about $20B in net buying in 2022, which is relatively small vs. AAPL’s buyback ($89B) and market cap ($2.9T),” they wrote. “Relative to other large-cap stocks, the combined impact of AAPL’s buybacks + migration to passive is above average but not uniquely high.”<\/p>\n

“Market data also indicates that AAPL’s ownership among institutions has increased YTD, suggesting some closing of the historical underweight position, and has likely been the biggest non-fundamental driver of appreciation this year.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Apple (AAPL) institutional ownership has increased YTD – Bernstein Bernstein analysts believe institutions being underweight Apple (NASDAQ:) and the tech giant’s buybacks could be uniquely helping the stock. The analysts, who have a Market Perform rating and $175 price target on AAPL shares, said that Apple has been a consistent repurchaser of its […]<\/p>\n","protected":false},"author":1,"featured_media":22950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-22949","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nApple institutional ownership has increased YTD - Bernstein | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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