Ahrens Investment Partners LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 9.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 54,048 shares of the iPhone maker’s stock after acquiring an additional 4,522 shares during the quarter. Apple makes up about 3.3% of Ahrens Investment Partners LLC’s portfolio, making the stock its 3rd biggest position. Ahrens Investment Partners LLC’s holdings in Apple were worth $7,389,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cooper Financial Group lifted its holdings in shares of Apple by 2.2% in the first quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock valued at $20,007,000 after purchasing an additional 2,516 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. boosted its position in Apple by 0.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the period. Tennessee Valley Asset Management Partners grew its stake in Apple by 2.0% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 24,330 shares of the iPhone maker’s stock valued at $4,248,000 after acquiring an additional 470 shares in the last quarter. Finally, Concorde Asset Management LLC increased its holdings in shares of Apple by 15.1% in the 1st quarter. Concorde Asset Management LLC now owns 11,375 shares of the iPhone maker’s stock valued at $1,985,000 after purchasing an additional 1,488 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on AAPL shares. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Monday, November 14th. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and lowered their price target for the company from $189.00 to $160.00 in a report on Friday, September 30th. Monness Crespi & Hardt initiated coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.26.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. On average, equities analysts expect that Apple Inc. will post 6.26 EPS for the current year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.
In other news, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,374,986.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 360,651 shares of company stock worth $53,703,645. Company insiders own 0.06% of the company’s stock.
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)
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
- How High Can the Fed Go? How to Trade it
- Does ASML’s November Rally Have Staying Power?
- Verra Mobility Stock Has Returned Back to the Station
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.