Bourgeon Capital Management LLC Raises Stake in Apple Inc. $AAPL

Bourgeon Capital Management LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,271 shares of the iPhone maker’s stock after purchasing an additional 122 shares during the period. Apple makes up about 2.2% of Bourgeon Capital Management LLC’s holdings, making the stock its 20th largest position. Bourgeon Capital Management LLC’s holdings in Apple were worth $11,135,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AAPL. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. acquired a new position in shares of Apple during the 1st quarter worth $58,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple during the 1st quarter worth $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Loop Capital cut their price target on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a research note on Thursday, September 11th. Finally, Sanford C. Bernstein assumed coverage on Apple in a research note on Monday, September 15th. They set an “outperform” rating and a $290.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $252.29 on Friday. The company’s 50 day simple moving average is $241.13 and its 200 day simple moving average is $216.81. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market capitalization of $3.74 trillion, a PE ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is 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.