Eclectic Associates Inc. ADV increased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,749 shares of the iPhone maker’s stock after acquiring an additional 302 shares during the quarter. Apple comprises 3.2% of Eclectic Associates Inc. ADV’s holdings, making the stock its 7th largest holding. Eclectic Associates Inc. ADV’s holdings in Apple were worth $4,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elk River Wealth Management LLC lifted its stake in shares of Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after acquiring an additional 54,989 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Apple by 8.3% in the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after acquiring an additional 5,703 shares during the period. Piscataqua Savings Bank lifted its stake in shares of Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after acquiring an additional 684 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Apple in the first quarter worth approximately $171,000. Finally, Chico Wealth RIA acquired a new position in shares of Apple in the first quarter worth approximately $7,794,000. 57.72% of the stock is owned by institutional investors and hedge funds.
Apple Trading Up 1.6 %
AAPL opened at $156.90 on Wednesday. The stock has a market cap of $2.52 trillion, a PE ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23. 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 business has a 50 day moving average of $159.84 and a 200-day moving average of $155.88. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is 15.18%.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction 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 $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction 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 completion of the sale, the senior vice president now 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 can be accessed through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on AAPL shares. Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, September 12th. Loop Capital dropped their price target on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Barclays set a $169.00 price target on Apple in a research note on Wednesday, September 14th. Citigroup boosted their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $181.68.
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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