Apple Inc. (NASDAQ:AAPL) is Perkins Coie Trust Co’s 3rd Largest Position

Perkins Coie Trust Co trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the second quarter, Holdings Channel reports. The institutional investor owned 103,033 shares of the iPhone maker’s stock after selling 125 shares during the period. Apple makes up 5.1% of Perkins Coie Trust Co’s holdings, making the stock its 3rd biggest holding. Perkins Coie Trust Co’s holdings in Apple were worth $14,087,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AAPL. Vanguard Group Inc. raised its stake in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. State Street Corp raised its stake 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 during the last quarter. Geode Capital Management LLC raised its stake in Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after acquiring an additional 4,456,954 shares during the last quarter. Norges Bank purchased a new stake in Apple during the 4th quarter valued at approximately $25,228,507,000. Finally, Charles Schwab Investment Management Inc. increased its position in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the period. 57.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred 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 transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred 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 transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred 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 transaction, 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 owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $150.70 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The firm’s 50-day moving average price is $159.65 and its two-hundred day moving average price is $156.02. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 24.87, a P/E/G ratio of 1.95 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Announces Dividend

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 dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.61%. Apple’s payout ratio is 15.18%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AAPL shares. Monness Crespi & Hardt started coverage on Apple in a research report on Thursday, September 8th. They set a “buy” rating and a $174.00 target price on the stock. Fundamental Research set a $177.07 target price on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Wedbush boosted their target price on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Evercore ISI boosted their target price on Apple from $180.00 to $185.00 in a research report on Friday, July 29th. Finally, Sanford C. Bernstein set a $170.00 price target on Apple in a report on Monday, September 12th. Two investment 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.

Apple Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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