Papp L Roy & Associates Acquires 4,717 Shares of Apple Inc. (NASDAQ:AAPL)

Papp L Roy & Associates raised its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 309,420 shares of the iPhone maker’s stock after purchasing an additional 4,717 shares during the quarter. Apple accounts for 6.1% of Papp L Roy & Associates’ investment portfolio, making the stock its largest holding. Papp L Roy & Associates’ holdings in Apple were worth $42,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spence Asset Management acquired a new position in shares of Apple during the second quarter worth approximately $49,000. Emerson Wealth LLC lifted its position in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares in the last quarter. Econ Financial Services Corp lifted its position in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares in the last quarter. HBC Financial Services PLLC raised its stake in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, Darrow Company Inc. bought a new stake in shares of Apple during the second quarter worth approximately $107,000. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL opened at $151.29 on Friday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The firm has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.93 and a beta of 1.25. The firm’s 50-day simple moving average is $147.08 and its 200 day simple moving average is $149.88. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period last year, the firm earned $1.24 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. set a $175.00 price target on shares of Apple in a research note on Friday, July 29th. UBS Group set a $180.00 target price on shares of Apple in a research note on Wednesday. Bank of America lowered their target price on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research note on Monday, November 7th. Finally, Itau BBA Securities assumed coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. 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 given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Transactions at Apple

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 shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $19,374,986.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 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 Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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