Capital Investment Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,966 shares of the iPhone maker’s stock after purchasing an additional 8,198 shares during the quarter. Apple comprises approximately 1.9% of Capital Investment Advisors LLC’s portfolio, making the stock its 10th largest holding. Capital Investment Advisors LLC’s holdings in Apple were worth $56,324,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Cardinal Capital Management Inc. increased its holdings in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $41,000. CFS Investment Advisory Services LLC increased its holdings in shares of Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after buying an additional 7,416,445 shares during the last quarter. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, Emerson Wealth LLC increased its holdings in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
Apple Price Performance
Apple stock opened at $150.70 on Friday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The stock has a market cap of $2.42 trillion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. 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 company has a fifty day simple moving average of $159.65 and a 200-day simple moving average of $156.09.
Apple Dividend Announcement
The business 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 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.18%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AAPL. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Monday, September 12th. Bank of America cut their price target on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Fundamental Research set a $177.07 target price on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Evercore ISI lifted their target price on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Finally, Morgan Stanley dropped their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $181.52.
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple 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 $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
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.
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