Callan Capital LLC Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Callan Capital LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,851 shares of the iPhone maker’s stock after acquiring an additional 4,544 shares during the period. Apple makes up 2.5% of Callan Capital LLC’s holdings, making the stock its 8th biggest holding. Callan Capital LLC’s holdings in Apple were worth $30,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Access Investment Management LLC purchased a new position in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP lifted its stake in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new position in shares of Apple in the second quarter worth approximately $206,000. Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter worth $208,000. Finally, SMH Capital Advisors Inc. bought a new position in Apple during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. Rosenblatt Securities increased their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Citigroup raised their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Finally, Robert W. Baird boosted their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Check Out Our Latest Research Report on AAPL

Apple Stock Performance

NASDAQ AAPL opened at $227.48 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $226.91 and its 200-day simple moving average is $213.51. The company has a market cap of $3.44 trillion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 412,746 shares of company stock worth $93,021,362. Company insiders own 0.06% of the company’s stock.

About Apple

(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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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