PFS Investments Inc. Boosts Stake in Apple Inc. (NASDAQ:AAPL)

PFS Investments Inc. lifted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 7.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 212,265 shares of the iPhone maker’s stock after purchasing an additional 15,362 shares during the period. PFS Investments Inc.’s holdings in Apple were worth $37,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Apple during the fourth quarter worth about $25,228,507,000. Aaron Wealth Advisors LLC raised its stake in Apple by 30,391.8% during the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after purchasing an additional 25,989,570 shares during the period. State Street Corp raised its stake in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Vanguard Group Inc. raised its stake in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Finally, Swiss National Bank raised its stake in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the period. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.9 %

Shares of Apple stock opened at $157.37 on Friday. The company has a fifty day simple moving average of $158.47 and a 200-day simple moving average of $156.37. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.53 trillion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.02 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.58%. Apple’s dividend payout ratio (DPR) is 15.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AAPL shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 target price on shares of Apple in a research note on Thursday. Wedbush lifted their target price on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Credit Suisse Group set a $201.00 price target on shares of Apple in a research note on Thursday. Barclays set a $169.00 price target on shares of Apple in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $181.31.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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