Apple Inc. $AAPL is J.P. Marvel Investment Advisors LLC’s 3rd Largest Position

J.P. Marvel Investment Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,707 shares of the iPhone maker’s stock after acquiring an additional 4,449 shares during the period. Apple accounts for 7.1% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. J.P. Marvel Investment Advisors LLC’s holdings in Apple were worth $41,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC boosted its stake in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC raised its holdings in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after buying an additional 409 shares during the last quarter. TruWealth Advisors LLC raised its holdings in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after buying an additional 5,120 shares during the last quarter. Finally, Allstate Corp grew its stake in shares of Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock worth $113,062,000 after acquiring an additional 438,471 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAPL. DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Barclays boosted their target price on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Monness Crespi & Hardt upped their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.73.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $238.47 on Thursday. The firm has a market cap of $3.54 trillion, a price-to-earnings ratio of 36.19, a PEG ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50-day simple moving average of $217.73 and a two-hundred day simple moving average of $212.92. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

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.