Nisa Investment Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,659,226 shares of the iPhone maker’s stock after acquiring an additional 69,287 shares during the quarter. Apple accounts for about 5.6% of Nisa Investment Advisors LLC’s holdings, making the stock its largest position. Nisa Investment Advisors LLC’s holdings in Apple were worth $637,009,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Spence Asset Management acquired a new position in Apple in the 2nd quarter valued at approximately $49,000. HBC Financial Services PLLC increased its stake in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the period. Emerson Wealth LLC increased its stake in Apple by 27.0% in the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 110 shares during the period. Darrow Company Inc. acquired a new position in Apple in the 2nd quarter valued at approximately $107,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Apple in the 1st quarter valued at approximately $171,000. Institutional investors and hedge funds own 57.72% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. DA Davidson dropped their price objective on shares of Apple from $185.00 to $167.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Fundamental Research increased their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Wedbush dropped their price target on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. KeyCorp restated a “buy” rating and set a $175.00 price target on shares of Apple in a research note on Tuesday, November 8th. Finally, Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Two equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.26.
Apple Trading Down 2.2 %
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The company 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 business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.26 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently announced 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 dividend on an annualized basis 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 currently 15.06%.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the sale, 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 is available at the SEC website. Insiders sold 360,651 shares of company stock worth $53,703,645 in the last quarter. 0.06% of the stock is owned by corporate insiders.
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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