Franklin Street Advisors Inc. NC Has $71.78 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Franklin Street Advisors Inc. NC raised its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 418,593 shares of the iPhone maker’s stock after purchasing an additional 3,057 shares during the period. Apple makes up about 5.3% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 3rd largest holding. Franklin Street Advisors Inc. NC’s holdings in Apple were worth $71,780,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wyrmwood Management LLC lifted its holdings in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the period. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple during the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in Apple in the 4th quarter valued at approximately $85,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 over the last three months. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. Loop Capital cut their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. Bank of America restated a “buy” rating and issued a $230.00 target price on shares of Apple in a research report on Wednesday, June 26th. Monness Crespi & Hardt restated a “buy” rating and issued a $205.00 target price on shares of Apple in a research report on Thursday, June 6th. Finally, Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.71.

View Our Latest Research Report on Apple

Apple Trading Up 0.6 %

AAPL opened at $221.55 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $221.55. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.40 trillion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.68 and a beta of 1.24. The company has a fifty day moving average price of $195.26 and a two-hundred day moving average price of $185.85.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. Analysts predict that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple declared that its board has authorized a stock repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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