First National Advisers LLC Buys 2,906 Shares of Apple Inc. $AAPL

First National Advisers LLC raised its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,740 shares of the iPhone maker’s stock after acquiring an additional 2,906 shares during the quarter. Apple makes up approximately 5.9% of First National Advisers LLC’s investment portfolio, making the stock its 2nd largest position. First National Advisers LLC’s holdings in Apple were worth $43,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Apple in the second quarter valued at $38,942,255,000. Nuveen LLC acquired a new stake in shares of Apple during the 1st quarter valued at about $17,472,482,000. PKS Advisory Services LLC increased its stake in shares of Apple by 98,917.0% in the 2nd quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock valued at $12,106,000 after purchasing an additional 57,898,088 shares in the last quarter. Laurel Wealth Advisors LLC raised its holdings in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Northern Trust Corp boosted its position in 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 purchasing an additional 20,079,472 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

Apple Stock Performance

NASDAQ AAPL opened at $275.50 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.97 and a quick ratio of 0.94. The company has a market cap of $4.04 trillion, a P/E ratio of 34.83, a P/E/G ratio of 2.44 and a beta of 1.09. The stock has a 50-day moving average of $267.46 and a two-hundred day moving average of $255.17. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, January 29th. The iPhone maker reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.17. The business had revenue of $143.76 billion for the quarter, compared to analysts’ expectations of $138.25 billion. Apple had a net margin of 27.04% and a return on equity of 159.94%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Monday, February 9th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AAPL. Jefferies Financial Group set a $276.47 target price on Apple and gave the stock a “hold” rating in a research note on Monday, January 26th. Bank of America increased their price objective on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Loop Capital reiterated a “buy” rating and issued a $325.00 target price (up previously from $315.00) on shares of Apple in a research report on Tuesday, December 2nd. CLSA upped their price target on shares of Apple from $265.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Evercore reiterated an “outperform” rating on shares of Apple in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $292.13.

Check Out Our Latest Stock Report on Apple

Apple Profile

(Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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