Apple Inc. (NASDAQ:AAPL) is Searle & CO.’s Largest Position

Searle & CO. raised its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 120,716 shares of the iPhone maker’s stock after acquiring an additional 6,675 shares during the period. Apple makes up about 6.5% of Searle & CO.’s holdings, making the stock its largest holding. Searle & CO.’s holdings in Apple were worth $16,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Opus Capital Group LLC grew its stake in Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares during the last quarter. Norwood Financial Corp grew its stake in Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares during the last quarter. Mokosak Advisory Group LLC grew its stake in Apple by 1.2% in the first quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock valued at $996,000 after purchasing an additional 66 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Apple by 6.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 66 shares during the last quarter. Finally, Lake Point Wealth Management grew its stake in Apple by 1.7% in the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock valued at $550,000 after purchasing an additional 67 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.4 %

Shares of AAPL stock opened at $151.29 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.93 and a beta of 1.25. The stock has a 50 day simple moving average of $147.08 and a 200-day simple moving average of $149.88. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. The business had revenue of $90.15 billion during 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 business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. On average, equities research analysts expect that Apple Inc. will post 6.26 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. DA Davidson dropped their price target on Apple from $185.00 to $167.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Barclays dropped their price target on Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Bank of America dropped their price target on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research note on Monday, November 7th. Itaú Unibanco initiated coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.26.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,651 shares of company stock worth $53,703,645. 0.06% of the stock is owned by corporate insiders.

Apple Profile

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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