Kagan Cocozza Asset Management Purchases 75 Shares of Apple Inc. $AAPL

Kagan Cocozza Asset Management lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,609 shares of the iPhone maker’s stock after buying an additional 75 shares during the period. Kagan Cocozza Asset Management’s holdings in Apple were worth $330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its position in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the last quarter. Northern Trust Corp raised its stake in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after buying an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. Rosenblatt Securities boosted their target price on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an “outperform” rating in a report on Friday, September 26th. Finally, Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $247.49.

Apple Price Performance

AAPL stock opened at $258.02 on Monday. The company’s 50-day moving average price is $233.09 and its two-hundred day moving average price is $214.69. The firm has a market cap of $3.83 trillion, a P/E ratio of 39.15, a P/E/G ratio of 2.51 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for 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%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,922 shares of company stock valued at $64,320,190. Corporate insiders own 0.06% of the company’s stock.

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.