Advisor Partners LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,854 shares of the iPhone maker’s stock after purchasing an additional 14,311 shares during the quarter. Apple accounts for about 4.5% of Advisor Partners LLC’s portfolio, making the stock its biggest position. Advisor Partners LLC’s holdings in Apple were worth $37,146,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of AAPL. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Apple by 3.1% in the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,628 shares of the iPhone maker’s stock worth $365,000 after buying an additional 49 shares in the last quarter. Roanoke Asset Management Corp NY raised its position in shares of Apple by 1.1% in the second quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock worth $873,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Apple by 0.4% in the second quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock worth $2,567,000 after buying an additional 51 shares in the last quarter. Monument Capital Management raised its position in shares of Apple by 2.2% in the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after buying an additional 53 shares in the last quarter. Finally, Landmark Financial Advisors LLC raised its position in shares of Apple by 0.7% in the second quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock worth $1,456,000 after buying an additional 53 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.
AAPL has been the topic of a number of research reports. Deutsche Bank raised their price target on Apple from $210.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. Monness Crespi & Hardt raised their price target on Apple from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Macquarie set a $210.00 price target on Apple and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Rosenblatt Securities set a $150.00 price objective on Apple and gave the company a “sell” rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $239.51.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the completion of the sale, the director now owns 1,150,783 shares in the company, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders sold a total of 465,658 shares of company stock valued at $100,549,205 in the last ninety days. 0.05% of the stock is currently owned by insiders.
NASDAQ AAPL traded up $0.71 during mid-day trading on Friday, reaching $260.14. The stock had a trading volume of 17,496,500 shares, compared to its average volume of 28,496,354. The stock has a market cap of $1,142.50 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The company has a fifty day moving average price of $235.37 and a 200 day moving average price of $209.53. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $260.44.
Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion during the quarter, compared to the consensus estimate of $62.86 billion. Apple had a net margin of 21.24% and a return on equity of 53.82%. Apple’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 EPS. As a group, equities research analysts expect that Apple Inc. will post 13.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 7th. Apple’s dividend payout ratio is currently 25.90%.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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