Addenda Capital Inc. Buys 10,819 Shares of Apple Inc. $AAPL

Addenda Capital Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,901 shares of the iPhone maker’s stock after acquiring an additional 10,819 shares during the period. Apple makes up about 1.4% of Addenda Capital Inc.’s investment portfolio, making the stock its 19th largest holding. Addenda Capital Inc.’s holdings in Apple were worth $32,602,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in AAPL. Kingstone Capital Partners Texas LLC increased its position in shares of Apple by 573,627.2% during the second 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 in the last quarter. Nuveen LLC bought a new stake in shares of Apple during the first quarter worth $17,472,482,000. GAMMA Investing LLC increased its position in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares in the last quarter. Northern Trust Corp increased its position in shares of Apple by 13.3% during the fourth 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 in the last quarter. Finally, Amundi increased its position in shares of Apple by 27.4% during the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

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

Apple Stock Performance

Shares of AAPL opened at $247.77 on Wednesday. The firm has a 50-day moving average of $239.39 and a 200-day moving average of $216.26. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market cap of $3.68 trillion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during 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%. Apple’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Analysts Set New Price Targets

Several brokerages have issued reports on AAPL. Sanford C. Bernstein began coverage on shares of Apple in a research note on Monday, September 15th. They issued an “outperform” rating and a $290.00 price target on the stock. Barclays lifted their price target on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Monness Crespi & Hardt lifted 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. Finally, Wedbush set a $310.00 price target on shares of Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

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.