AllGen Financial Advisors Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 16.9% during the third quarter, Holdings Channel reports. The institutional investor owned 8,758 shares of the iPhone maker’s stock after buying an additional 1,268 shares during the period. Apple makes up 0.7% of AllGen Financial Advisors Inc.’s portfolio, making the stock its 26th biggest holding. AllGen Financial Advisors Inc.’s holdings in Apple were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Smith Salley Wealth Management raised its holdings in Apple by 9.2% in the third quarter. Smith Salley Wealth Management now owns 390,796 shares of the iPhone maker’s stock valued at $91,056,000 after buying an additional 32,810 shares during the period. Bristlecone Advisors LLC grew its position in shares of Apple by 3.4% during the third quarter. Bristlecone Advisors LLC now owns 217,230 shares of the iPhone maker’s stock worth $50,614,000 after buying an additional 7,205 shares in the last quarter. Modera Wealth Management LLC lifted its position in shares of Apple by 0.5% during the third quarter. Modera Wealth Management LLC now owns 890,979 shares of the iPhone maker’s stock worth $207,598,000 after purchasing an additional 4,312 shares during the last quarter. Global Wealth Management LLC acquired a new stake in shares of Apple during the 3rd quarter valued at approximately $524,000. Finally, Consolidated Portfolio Review Corp lifted its position in shares of Apple by 3.1% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 57,093 shares of the iPhone maker’s stock worth $13,303,000 after buying an additional 1,743 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
AAPL has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Loop Capital lowered their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.47.
Check Out Our Latest Stock Report on Apple
Insider Buying and Selling
In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 in the last 90 days. 0.06% of the stock is owned by corporate insiders.
Apple Price Performance
AAPL stock opened at $259.02 on Friday. The firm has a market capitalization of $3.92 trillion, a P/E ratio of 42.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $237.00 and a two-hundred day simple moving average of $227.21.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.
About Apple
(Free Report)
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.
See Also
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