Naples Global Advisors LLC Has $39.16 Million Stock Position in Apple Inc. $AAPL

Naples Global Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,883 shares of the iPhone maker’s stock after acquiring an additional 988 shares during the quarter. Apple accounts for 3.4% of Naples Global Advisors LLC’s portfolio, making the stock its largest holding. Naples Global Advisors LLC’s holdings in Apple were worth $39,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AAPL. First National Bank of Hutchinson boosted its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC boosted its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the period. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated 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 $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on AAPL shares. Morgan Stanley set a $298.00 target price on Apple and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, July 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a report on Wednesday, October 8th. CLSA upgraded Apple to a “strong-buy” rating in a report on Sunday, October 5th. Finally, Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.47.

Apple Price Performance

NASDAQ AAPL opened at $262.77 on Wednesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29. The stock’s 50-day moving average is $242.49 and its two-hundred day moving average is $217.74. 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 firm has a market cap of $3.90 trillion, a P/E ratio of 39.87, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is presently 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.