Mountain Pacific Investment Advisers Inc. ID lowered its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,197 shares of the iPhone maker’s stock after selling 105 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in Apple were worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Atlantic Private Wealth LLC purchased a new position in Apple in the 1st quarter worth about $30,000. Cheyne Capital Management UK LLP grew its stake in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares in the last quarter. HBC Financial Services PLLC grew its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC grew its stake in Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after acquiring an additional 211 shares in the last quarter. Finally, NNS Holding purchased a new position in Apple during the 2nd quarter valued at about $193,000. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AAPL. Raymond James lifted their target price on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 target price on shares of Apple in a research note on Friday, September 15th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Rosenblatt Securities lowered their price target on Apple from $198.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group lowered their price target on Apple from $222.00 to $216.00 and set a “buy” rating for the company in a research note on Wednesday, September 13th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $197.82.
Apple Price Performance
Apple stock opened at $176.65 on Friday. The business’s 50-day simple moving average is $176.80 and its 200 day simple moving average is $179.38. The stock has a market cap of $2.76 trillion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 2.42 and a beta of 1.30. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s payout ratio is 16.13%.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the transaction, the chief financial officer now owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares in the company, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 455,004 shares of company stock valued at $79,238,767. 0.06% of the stock is currently owned by company insiders.
Apple Company Profile
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.
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