Apple Inc. (NASDAQ:AAPL) is Carmel Capital Partners LLC’s 8th Largest Position

Carmel Capital Partners LLC grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,530 shares of the iPhone maker’s stock after purchasing an additional 1,326 shares during the period. Apple comprises about 1.3% of Carmel Capital Partners LLC’s portfolio, making the stock its 8th largest position. Carmel Capital Partners LLC’s holdings in Apple were worth $1,440,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Aletheian Wealth Advisors LLC raised its holdings in shares of Apple by 22.9% in the 2nd quarter. Aletheian Wealth Advisors LLC now owns 10,184 shares of the iPhone maker’s stock worth $1,392,000 after purchasing an additional 1,895 shares during the period. EWG Elevate Inc. grew its stake in Apple by 0.8% in the 2nd quarter. EWG Elevate Inc. now owns 11,477 shares of the iPhone maker’s stock valued at $1,569,000 after buying an additional 90 shares in the last quarter. DBK Financial Counsel LLC purchased a new position in Apple in the 2nd quarter valued at approximately $315,000. Fusion Family Wealth LLC grew its stake in Apple by 11.4% in the 2nd quarter. Fusion Family Wealth LLC now owns 3,974 shares of the iPhone maker’s stock valued at $543,000 after buying an additional 406 shares in the last quarter. Finally, S.C. Financial Services Inc. grew its stake in Apple by 1.3% in the 2nd quarter. S.C. Financial Services Inc. now owns 21,468 shares of the iPhone maker’s stock valued at $2,935,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $16,923,788.25. Following 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $152.74 on Friday. 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 company has a market capitalization of $2.45 trillion, a PE ratio of 25.20, a P/E/G ratio of 2.03 and a beta of 1.23. The firm has a fifty day simple moving average of $160.31 and a two-hundred day simple moving average of $155.83. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 earnings per share. Research analysts expect that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AAPL. Evercore ISI lifted their price objective on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company reduced their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Itaú Unibanco began coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Citigroup boosted their price target on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $139.00 price target on shares of Apple in a research report on Thursday, September 8th. Two 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 issued a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

About Apple

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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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