Perennial Advisors LLC Has $21.59 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Perennial Advisors LLC boosted its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,644 shares of the iPhone maker’s stock after purchasing an additional 3,962 shares during the period. Apple comprises 5.7% of Perennial Advisors LLC’s investment portfolio, making the stock its biggest position. Perennial Advisors LLC’s holdings in Apple were worth $21,589,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Daniels&Tansey LLP raised its position in shares of Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after buying an additional 60 shares in the last quarter. Donald L. Hagan LLC raised its position in shares of Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L raised its position in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after buying an additional 62 shares in the last quarter. Opus Capital Group LLC raised its position in shares of Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after buying an additional 63 shares in the last quarter. Finally, Norwood Financial Corp raised its position in shares of Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after buying an additional 65 shares in the last quarter. 57.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Evercore ISI lifted their target price on shares of Apple from $180.00 to $185.00 in a research report on Friday. Credit Suisse Group set a $166.00 target price on shares of Apple in a research report on Friday. Bank of America decreased their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Barclays lifted their target price on shares of Apple from $166.00 to $169.00 and gave the stock a “maintains” rating in a research report on Friday. Finally, Raymond James decreased their target price on shares of Apple from $190.00 to $185.00 and set a “maintains” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.04.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Apple Trading Down 0.6 %

NASDAQ:AAPL opened at $161.51 on Tuesday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. 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’s 50-day simple moving average is $144.68 and its 200 day simple moving average is $157.12. The firm has a market capitalization of $2.61 trillion, a P/E ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 6.08 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s payout ratio is currently 15.18%.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

About Apple

(Get Rating)

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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