Apple Inc. $AAPL Stock Position Raised by Coastwise Capital Group LLC

Coastwise Capital Group LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,382 shares of the iPhone maker’s stock after acquiring an additional 93 shares during the quarter. Apple makes up approximately 5.3% of Coastwise Capital Group LLC’s portfolio, making the stock its 2nd biggest position. Coastwise Capital Group LLC’s holdings in Apple were worth $6,644,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after buying an additional 5,005,297 shares during the period. Geode Capital Management LLC raised its holdings in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares in the last quarter. Norges Bank acquired a new stake in Apple in the fourth quarter valued at approximately $46,868,648,000. Finally, Northern Trust Corp increased its position in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAPL shares. HSBC set a $220.00 target price on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Tigress Financial lifted their price target on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Loop Capital cut their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Finally, Morgan Stanley set a $240.00 target price on Apple and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.51.

Insider Buying and Selling

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The stock was 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 owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.1%

Apple stock opened at $254.63 on Wednesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a 50 day moving average of $230.51 and a two-hundred day moving average of $213.80. 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 has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.64 and a beta of 1.11.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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 $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Apple 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.