Coston McIsaac & Partners Has $10.24 Million Stake in Apple Inc. (NASDAQ:AAPL)

Coston McIsaac & Partners reduced its position in Apple Inc. (NASDAQ:AAPLFree Report) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,696 shares of the iPhone maker’s stock after selling 68 shares during the period. Apple accounts for about 3.3% of Coston McIsaac & Partners’ portfolio, making the stock its 7th largest position. Coston McIsaac & Partners’ holdings in Apple were worth $10,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Vanguard Group Inc. increased its position in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Morgan Stanley grew its stake in Apple by 1.0% during the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after purchasing an additional 2,018,010 shares during the last quarter. Norges Bank acquired a new position in shares of Apple in the fourth quarter valued at about $33,912,466,000. International Assets Investment Management LLC raised its stake in shares of Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after purchasing an additional 2,096,360 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock valued at $34,771,329 over the last quarter. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL stock opened at $227.82 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $227.85. The business has a fifty day moving average of $198.52 and a two-hundred day moving average of $186.41. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

Apple declared that its board has initiated a stock repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Monday, July 1st. Citigroup cut their price target on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their price objective on Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Canaccord Genuity Group raised their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Finally, Melius Research boosted their price target on Apple from $227.00 to $260.00 and gave the company a “buy” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

View Our Latest Research Report on Apple

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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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