Kathleen S. Wright Associates Inc. Acquires 1,420 Shares of Apple Inc. (NASDAQ:AAPL)

Kathleen S. Wright Associates Inc. grew its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 337.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,841 shares of the iPhone maker’s stock after purchasing an additional 1,420 shares during the period. Kathleen S. Wright Associates Inc.’s holdings in Apple were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AAPL. Norges Bank bought a new position in Apple during the fourth quarter worth about $33,912,466,000. International Assets Investment Management LLC increased its stake in Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after acquiring an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. raised its stake in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Global Assets Advisory LLC increased its stake in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after buying an additional 5,331,439 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Sanford C. Bernstein lifted their target price on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Barclays reaffirmed an “underweight” rating and issued a $164.00 price target on shares of Apple in a research note on Tuesday, June 11th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Finally, Rosenblatt Securities raised shares of Apple from a “neutral” rating to a “buy” rating and increased their price objective for the company from $196.00 to $260.00 in a research report on Wednesday, June 26th. One research 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

View Our Latest Research Report on Apple

Insider Activity at Apple

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

Apple Trading Up 0.7 %

NASDAQ:AAPL opened at $227.82 on Tuesday. The stock has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.75 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $227.85. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $198.52 and a 200 day moving average of $186.41.

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

Apple Increases Dividend

The business 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. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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