Old Port Advisors Has $7.17 Million Position in Apple Inc. $AAPL

Old Port Advisors trimmed its position in Apple Inc. (NASDAQ:AAPL) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,926 shares of the iPhone maker’s stock after selling 2,223 shares during the period. Apple accounts for 2.0% of Old Port Advisors’ investment portfolio, making the stock its 6th biggest position. Old Port Advisors’ holdings in Apple were worth $7,166,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Apple by 0.4% during the 1st 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 during the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings 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 acquiring an additional 205,656,808 shares during the last quarter. Northern Trust Corp lifted its holdings 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 acquiring an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Apple by 14.3% during 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 worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Apple by 1.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after acquiring an additional 984,157 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $245.27 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company’s 50-day moving average is $237.61 and its 200 day moving average is $215.88. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. UBS Group reissued a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Finally, Evercore ISI set a $290.00 price target on shares of Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

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.