Apple Inc. (NASDAQ:AAPL) Shares Bought by Solitude Financial Services

Solitude Financial Services boosted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 10.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 57,077 shares of the iPhone maker’s stock after buying an additional 5,210 shares during the quarter. Apple comprises approximately 5.5% of Solitude Financial Services’ investment portfolio, making the stock its 6th biggest holding. Solitude Financial Services’ holdings in Apple were worth $7,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new position in Apple in the fourth quarter valued at $25,228,507,000. Aaron Wealth Advisors LLC grew its position in Apple by 30,391.8% during the first 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 grew its position in Apple by 1.8% during the fourth 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 grew its position in Apple by 31.7% during the first 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. grew its position in Apple by 0.7% during the first 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. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.6 %

Shares of NASDAQ AAPL opened at $152.74 on Friday. The stock’s 50 day moving average price is $160.31 and its two-hundred day moving average price is $155.83. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market capitalization of $2.45 trillion, a P/E ratio of 25.20, a PEG ratio of 2.03 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.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $82.97 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Apple’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AAPL shares. UBS Group set a $185.00 price target on Apple in a research report on Wednesday, September 14th. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday, September 12th. Bank of America lowered their price target on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Evercore ISI upped their target price on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays set a $169.00 target price on Apple in a research report on Wednesday, September 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given 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 $181.68.

Insider Transactions at Apple

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

About Apple

(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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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