Capital Advisors Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 41,321 shares of the iPhone maker’s stock after acquiring an additional 436 shares during the period. Apple comprises 2.2% of Capital Advisors Wealth Management LLC’s holdings, making the stock its 12th largest position. Capital Advisors Wealth Management LLC’s holdings in Apple were worth $7,215,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Apple during the fourth quarter valued at $25,228,507,000. State Street Corp increased its stake in shares of Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Capital Research Global Investors boosted its stake in Apple by 38.1% during the fourth quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after acquiring an additional 8,154,171 shares in the last quarter. SG Americas Securities LLC grew its holdings in Apple by 114.9% in the first quarter. SG Americas Securities LLC now owns 959,506 shares of the iPhone maker’s stock worth $167,539,000 after purchasing an additional 7,386,473 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Apple by 41.8% during the fourth quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock valued at $3,705,275,000 after purchasing an additional 6,154,422 shares in the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The shares were 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 $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Apple Trading Down 1.4 %
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the prior year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.
Analyst Upgrades and Downgrades
AAPL has been the topic of a number of analyst reports. KeyCorp boosted their price target on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. UBS Group set a $185.00 target price on Apple in a report on Thursday, July 21st. Credit Suisse Group upgraded Apple from a “neutral” rating to an “outperform” rating and set a $201.00 price target for the company in a report on Tuesday, August 16th. Rosenblatt Securities cut their price objective on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Finally, Itau BBA Securities started coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.00.
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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