Neville Rodie & Shaw Inc. Has $96.62 Million Position in Apple Inc. (NASDAQ:AAPL)

Neville Rodie & Shaw Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706,728 shares of the iPhone maker’s stock after selling 9,262 shares during the quarter. Apple comprises about 8.7% of Neville Rodie & Shaw Inc.’s portfolio, making the stock its biggest position. Neville Rodie & Shaw Inc.’s holdings in Apple were worth $96,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Apple in the fourth quarter worth about $25,228,507,000. Aaron Wealth Advisors LLC grew its position in shares of Apple by 30,391.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares during the period. State Street Corp raised its stake in shares of 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 buying an additional 10,951,705 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Apple by 31.7% during the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after buying an additional 9,354,484 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 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 buying an additional 8,734,393 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AAPL shares. Itaú Unibanco started coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Citigroup boosted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Morgan Stanley dropped their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Rosenblatt Securities dropped their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Finally, Monness Crespi & Hardt assumed coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price for the company. Two research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.52.

Insiders Place Their Bets

In other Apple 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 transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL 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 firm has a fifty day simple moving average of $159.65 and a 200 day simple moving average of $156.09. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 24.87, a PEG 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.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping 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 company posted $1.30 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Apple Company Profile

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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