Keating Investment Counselors Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 25.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,829 shares of the iPhone maker’s stock after selling 1,665 shares during the quarter. Keating Investment Counselors Inc.’s holdings in Apple were worth $660,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Matrix Trust Co increased its stake in shares of Apple by 158.0% during the 2nd quarter. Matrix Trust Co now owns 6,124 shares of the iPhone maker’s stock worth $837,000 after purchasing an additional 3,750 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Apple by 6.6% during the 2nd quarter. AE Wealth Management LLC now owns 2,426,401 shares of the iPhone maker’s stock worth $331,738,000 after buying an additional 149,353 shares during the period. LGT Fund Management Co Ltd. boosted its holdings in shares of Apple by 18.1% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 348,010 shares of the iPhone maker’s stock worth $47,580,000 after buying an additional 53,393 shares during the period. Assetmark Inc. boosted its holdings in shares of Apple by 3.6% during the 2nd quarter. Assetmark Inc. now owns 1,445,967 shares of the iPhone maker’s stock worth $197,693,000 after buying an additional 50,499 shares during the period. Finally, Emerson Wealth LLC boosted its holdings in shares of Apple by 27.0% during the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Monness Crespi & Hardt assumed coverage on shares of Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Citigroup reaffirmed a “buy” rating and set a $175.00 price objective on shares of Apple in a report on Tuesday, November 8th. DA Davidson decreased their price objective on shares of Apple from $185.00 to $167.00 and set a “buy” rating for the company in a report on Friday, October 28th. Itaú Unibanco began coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Finally, Fundamental Research increased their price target on shares of Apple to $168.50 and gave the company a “buy” rating in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $176.26.
Apple Trading Down 2.2 %
Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating 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 net margin of 25.31% and a return on equity of 160.90%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.
In other news, SVP Deirdre O’brien sold 176,299 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 360,651 shares of company stock valued at $53,703,645. 0.06% of the stock is currently owned by insiders.
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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