Fragasso Group Inc. Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Fragasso Group Inc. increased its position in Apple Inc. (NASDAQ:AAPLFree Report) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 279,782 shares of the iPhone maker’s stock after purchasing an additional 1,956 shares during the quarter. Apple makes up 5.0% of Fragasso Group Inc.’s holdings, making the stock its 4th largest position. Fragasso Group Inc.’s holdings in Apple were worth $47,901,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Moneta Group Investment Advisors LLC raised its holdings in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after purchasing an additional 569,066,184 shares during the period. Norges Bank bought a new position in Apple in the 4th quarter valued at about $21,746,940,000. Morgan Stanley raised its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares during the period. Barclays PLC raised its holdings in Apple by 60.0% in the 2nd quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock valued at $9,103,464,000 after acquiring an additional 17,604,799 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in Apple by 154.9% in the 2nd quarter. Osaic Holdings Inc. now owns 23,295,770 shares of the iPhone maker’s stock valued at $1,729,270,000 after acquiring an additional 14,157,430 shares during the period. 58.51% of the stock is owned by institutional investors.

Apple Price Performance

AAPL stock opened at $172.62 on Friday. The company has a fifty day moving average price of $183.39 and a 200-day moving average price of $183.34. The company has a market capitalization of $2.67 trillion, a P/E ratio of 26.89, a PEG ratio of 2.06 and a beta of 1.29. Apple Inc. has a 52-week low of $151.64 and a 52-week high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.55 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is presently 14.95%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AAPL shares. The Goldman Sachs Group increased their price target on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 price target on shares of Apple in a report on Tuesday, March 5th. Morgan Stanley increased their target price on shares of Apple from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 8th. Piper Sandler decreased their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Finally, Citigroup restated a “buy” rating and set a $225.00 target price on shares of Apple in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.27.

Check Out Our Latest Analysis on AAPL

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

About Apple

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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