Boit C F David Has $6.78 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Boit C F David lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,902 shares of the iPhone maker’s stock after selling 100 shares during the period. Apple accounts for about 3.4% of Boit C F David’s investment portfolio, making the stock its 7th largest holding. Boit C F David’s holdings in Apple were worth $6,781,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAPL. China Universal Asset Management Co. Ltd. boosted its stake in Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Apple by 0.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 506,642 shares of the iPhone maker’s stock worth $86,879,000 after purchasing an additional 1,936 shares during the period. Tobam raised its holdings in Apple by 3.9% in the 1st quarter. Tobam now owns 21,459 shares of the iPhone maker’s stock worth $3,680,000 after purchasing an additional 810 shares during the period. BNP Paribas bought a new stake in Apple during the first quarter valued at about $88,000,000. Finally, Alliance Wealth Management Group raised its holdings in Apple by 2.6% during the first quarter. Alliance Wealth Management Group now owns 30,094 shares of the iPhone maker’s stock valued at $5,160,000 after acquiring an additional 755 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AAPL shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Finally, Loop Capital reduced their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Trading Up 0.6 %

AAPL stock opened at $229.87 on Monday. The company’s 50-day simple moving average is $227.73 and its 200-day simple moving average is $218.30. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm has a market cap of $3.47 trillion, a P/E ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is currently 16.45%.

Apple Company Profile

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.