Mutual Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 621,752 shares of the iPhone maker’s stock after purchasing an additional 14,465 shares during the period. Apple accounts for approximately 4.6% of Mutual Advisors LLC’s holdings, making the stock its 2nd largest position. Mutual Advisors LLC’s holdings in Apple were worth $120,601,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Private Wealth LLC purchased a new stake in shares of Apple in the 1st quarter worth $30,000. Cheyne Capital Management UK LLP increased its stake in Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares in the last quarter. HBC Financial Services PLLC increased its stake in Apple by 21.7% in 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 in the last quarter. Clear Perspectives Financial Planning LLC increased its stake in Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after buying an additional 211 shares in the last quarter. Finally, NNS Holding purchased a new stake in Apple in the 2nd quarter worth $193,000. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on AAPL. Piper Sandler Companies increased their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Oppenheimer cut their price target on Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Barclays cut their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Monday, October 30th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $195.00 price target on shares of Apple in a research note on Monday, October 9th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a report on Thursday, September 21st. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.82.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 4,806 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the completion of the sale, the insider now owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 4,806 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $184.04, for a total transaction of $884,496.24. Following the transaction, the insider now directly owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 444,391 shares of company stock valued at $77,370,046 over the last 90 days. Insiders own 0.06% of the company’s stock.
Apple Stock Up 0.3 %
Shares of NASDAQ AAPL opened at $188.01 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. The company has a market cap of $2.92 trillion, a P/E ratio of 30.72, a PEG ratio of 2.55 and a beta of 1.30. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm has a 50-day simple moving average of $176.44 and a two-hundred day simple moving average of $180.47.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. Research analysts anticipate that Apple Inc. will post 6.56 earnings per share for the current year.
Apple Dividend Announcement
The company also recently disclosed 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 0.51%. The ex-dividend date is Friday, November 10th. Apple’s payout ratio is currently 15.69%.
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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