Ardevora Asset Management LLP Has $54.26 Million Stake in Apple Inc. (NASDAQ:AAPL)

Ardevora Asset Management LLP trimmed its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 396,844 shares of the iPhone maker’s stock after selling 4,356 shares during the period. Ardevora Asset Management LLP’s holdings in Apple were worth $54,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Elk River Wealth Management LLC lifted its holdings in 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 purchasing an additional 54,989 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 5,703 shares during the last quarter. Piscataqua Savings Bank lifted its holdings in 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 purchasing an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Apple during the 1st quarter worth approximately $171,000. Finally, Chico Wealth RIA acquired a new stake in Apple during the 1st quarter worth approximately $7,794,000. 57.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AAPL. Evercore ISI lifted their price target on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company dropped their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $139.00 price objective on shares of Apple in a report on Thursday, September 8th. Credit Suisse Group set a $201.00 price objective on Apple in a report on Thursday, September 8th. Finally, Wedbush lifted their price objective on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $181.68.

Apple Trading Up 1.6 %

Shares of AAPL stock opened at $156.90 on Wednesday. The firm has a market capitalization of $2.52 trillion, a P/E ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. 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 stock’s fifty day simple moving average is $159.84 and its 200 day simple moving average is $155.88.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 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 firm 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 company posted $1.30 EPS. The business’s 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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. Corporate insiders own 0.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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