Concorde Asset Management LLC Has $3.49 Million Holdings in Apple Inc. $AAPL

Concorde Asset Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,704 shares of the iPhone maker’s stock after acquiring an additional 814 shares during the period. Apple accounts for approximately 1.9% of Concorde Asset Management LLC’s holdings, making the stock its 6th largest position. Concorde Asset Management LLC’s holdings in Apple were worth $3,488,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Curi RMB Capital LLC grew its position in Apple by 25.1% in the first quarter. Curi RMB Capital LLC now owns 380,576 shares of the iPhone maker’s stock worth $84,537,000 after acquiring an additional 76,244 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Apple by 1.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 148,710 shares of the iPhone maker’s stock worth $33,033,000 after buying an additional 2,357 shares during the period. Belmont Capital LLC boosted its holdings in shares of Apple by 48.3% during the 1st quarter. Belmont Capital LLC now owns 459,358 shares of the iPhone maker’s stock worth $102,037,000 after buying an additional 149,593 shares during the period. Banque Transatlantique SA boosted its holdings in shares of Apple by 260.8% during the 1st quarter. Banque Transatlantique SA now owns 4,508,384 shares of the iPhone maker’s stock worth $925,467,000 after buying an additional 3,258,726 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Apple by 6.1% during the 1st quarter. Alliancebernstein L.P. now owns 28,191,897 shares of the iPhone maker’s stock worth $6,262,266,000 after buying an additional 1,613,031 shares during the period. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Monness Crespi & Hardt upped their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Morgan Stanley set a $240.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $240.80.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated 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 completion of the transaction, the senior vice president directly 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 SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.8%

NASDAQ AAPL opened at $234.07 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average is $221.50 and its two-hundred day moving average is $212.39. The company has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

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

Apple Dividend Announcement

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

About Apple

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.