626 Financial LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,181 shares of the iPhone maker’s stock after acquiring an additional 910 shares during the quarter. Apple makes up approximately 5.0% of 626 Financial LLC’s holdings, making the stock its 6th largest position. 626 Financial LLC’s holdings in Apple were worth $6,585,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of AAPL. Norges Bank bought a new stake in Apple during the 4th quarter valued at approximately $25,228,507,000. Aaron Wealth Advisors LLC boosted its position in Apple by 30,391.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after acquiring an additional 25,989,570 shares in the last quarter. State Street Corp boosted its position in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Apple by 31.7% during the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after purchasing an additional 9,354,484 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. 57.72% of the stock is owned by institutional investors.
Analyst Ratings Changes
AAPL has been the subject of several recent research reports. Itau BBA Securities initiated coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Fundamental Research set a $177.07 target price on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. Wedbush lifted their target price on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. KeyCorp lifted their target price on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Finally, Bank of America decreased their price objective on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $181.68.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Trading Down 1.5 %
Shares of AAPL stock opened at $150.43 on Friday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a fifty day moving average price of $160.32 and a 200-day moving average price of $155.78. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market cap of $2.42 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.99 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 EPS. As a group, equities analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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