Apple Inc. (NASDAQ:AAPL) Stake Raised by Hoffman Alan N Investment Management

Hoffman Alan N Investment Management grew its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 592,726 shares of the iPhone maker’s stock after acquiring an additional 2,377 shares during the period. Apple makes up approximately 54.9% of Hoffman Alan N Investment Management’s portfolio, making the stock its largest position. Hoffman Alan N Investment Management’s holdings in Apple were worth $81,037,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Elk River Wealth Management LLC raised its stake in shares of Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Apple by 8.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after buying an additional 5,703 shares during the last quarter. Piscataqua Savings Bank raised its stake in shares of Apple by 1.5% during the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Apple during the 1st quarter worth $171,000. Finally, Chico Wealth RIA acquired a new position in shares of Apple during the 1st quarter worth $7,794,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 1.1 %

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

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results 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. 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 analyst estimates of $82.97 billion. During the same period in the prior year, the company posted $1.30 EPS. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AAPL shares. Wells Fargo & Company cut their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Wedbush boosted their target price on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Monness Crespi & Hardt started coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price for the company. Rosenblatt Securities cut their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Finally, Bank of America cut their target price on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.52.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was 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 directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly 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 corporate insiders.

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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