AA Financial Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 22,100 shares of the iPhone maker’s stock after buying an additional 1,012 shares during the quarter. Apple makes up about 1.6% of AA Financial Advisors LLC’s investment portfolio, making the stock its 22nd largest position. AA Financial Advisors LLC’s holdings in Apple were worth $4,655,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Diversified Trust Co raised its stake in Apple by 10.9% during the 2nd quarter. Diversified Trust Co now owns 542,129 shares of the iPhone maker’s stock valued at $114,183,000 after acquiring an additional 53,124 shares in the last quarter. Traveka Wealth LLC raised its stake in shares of Apple by 4.5% during the second quarter. Traveka Wealth LLC now owns 24,173 shares of the iPhone maker’s stock valued at $5,091,000 after purchasing an additional 1,044 shares in the last quarter. Maia Wealth LLC acquired a new stake in Apple in the second quarter worth about $4,588,000. Bank Pictet & Cie Asia Ltd. grew its position in Apple by 30.4% in the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 5,055 shares of the iPhone maker’s stock valued at $1,065,000 after buying an additional 1,178 shares in the last quarter. Finally, Foguth Wealth Management LLC. increased its stake in Apple by 13.3% during the 2nd quarter. Foguth Wealth Management LLC. now owns 8,437 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 988 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 price target (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Rosenblatt Securities increased their price target on Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Oppenheimer boosted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.62.
Check Out Our Latest Report on AAPL
Apple Trading Down 0.7 %
Apple stock opened at $220.82 on Monday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.39 trillion, a P/E ratio of 34.34, a P/E/G ratio of 2.69 and a beta of 1.24. The company’s fifty day simple moving average is $223.09 and its 200-day simple moving average is $197.36.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.55%.
Insider Activity at Apple
In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by corporate insiders.
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.
Further Reading
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