Cooper Financial Group lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 17.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 134,038 shares of the iPhone maker’s stock after acquiring an additional 19,457 shares during the quarter. Apple makes up about 6.7% of Cooper Financial Group’s investment portfolio, making the stock its biggest position. Cooper Financial Group’s holdings in Apple were worth $18,326,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AAPL. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth approximately $25,228,507,000. Aaron Wealth Advisors LLC increased its holdings in shares of Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after acquiring an additional 25,989,570 shares during the period. State Street Corp increased its holdings in shares of Apple by 1.8% in 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 period. Capital Research Global Investors increased its holdings in shares of Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after acquiring an additional 9,354,484 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Apple by 0.7% in 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 period. Hedge funds and other institutional investors own 57.72% of the company’s stock.
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 shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the company’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 directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last released 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. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. Research analysts expect that Apple Inc. will post 6.11 EPS for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. Apple’s dividend payout ratio (DPR) is 15.18%.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of recent research reports. Itaú Unibanco initiated coverage on shares of Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Barclays set a $169.00 target price on shares of Apple in a report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a report on Monday, August 1st. Morgan Stanley dropped their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Finally, 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 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus 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.
- Get a free copy of the StockNews.com research report on Apple (AAPL)
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