Cohen Investment Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,643 shares of the iPhone maker’s stock after acquiring an additional 1,103 shares during the period. Apple comprises 6.0% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its biggest position. Cohen Investment Advisors LLC’s holdings in Apple were worth $7,060,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Spence Asset Management acquired a new position in Apple during the 2nd quarter worth about $49,000. Emerson Wealth LLC lifted its stake in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares in the last quarter. Econ Financial Services Corp lifted its stake in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares in the last quarter. HBC Financial Services PLLC lifted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Finally, Darrow Company Inc. acquired a new position in Apple during the 2nd quarter worth about $107,000. Institutional investors and hedge funds own 57.72% of the company’s stock.
Insiders Place Their Bets
In other Apple news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction 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 completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 360,651 shares of company stock valued at $53,703,645. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Sell-side analysts forecast that Apple Inc. will post 6.26 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a 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
A number of equities research analysts have issued reports on the company. Barclays reduced their price target on Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. set a $175.00 price target on Apple in a research report on Friday, July 29th. Itau BBA Securities assumed coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Robert W. Baird reduced their price target on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Finally, Fundamental Research increased their price target on Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $176.26.
Apple Company Profile
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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