FirstPurpose Wealth LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 14.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,213 shares of the iPhone maker’s stock after purchasing an additional 672 shares during the period. FirstPurpose Wealth LLC’s holdings in Apple were worth $720,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc grew its stake in shares of Apple by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after purchasing an additional 9,411,018 shares during the period. Vanguard Group Inc. boosted its holdings 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 buying an additional 8,734,393 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after buying an additional 8,716,964 shares during the period. Swiss National Bank increased its holdings in Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after buying an additional 8,230,300 shares in the last quarter. Finally, Verity Asset Management Inc. raised its position in shares of Apple by 29,097.9% in the first quarter. Verity Asset Management Inc. now owns 5,300,881 shares of the iPhone maker’s stock worth $189,000 after acquiring an additional 5,282,726 shares during the period. Hedge funds and other institutional investors own 57.60% of the company’s stock.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter last year, the firm earned $1.24 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. DA Davidson dropped their target price on Apple to $167.00 in a research report on Thursday, December 1st. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Wedbush reduced their target price on Apple from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, January 4th. Barclays dropped their price target on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 11th. Finally, UBS Group set a $180.00 price objective on shares of Apple in a research report on Thursday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $170.04.
Apple Company Profile
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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