Grey Street Capital LLC boosted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 24.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,973 shares of the iPhone maker’s stock after purchasing an additional 5,571 shares during the quarter. Apple comprises approximately 2.9% of Grey Street Capital LLC’s holdings, making the stock its 8th largest holding. Grey Street Capital LLC’s holdings in Apple were worth $5,426,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Transform Wealth LLC raised its position in shares of Apple by 2.9% during the 2nd quarter. Transform Wealth LLC now owns 287,965 shares of the iPhone maker’s stock valued at $55,857,000 after buying an additional 8,016 shares in the last quarter. Chatham Capital Group Inc. raised its position in shares of Apple by 1.8% during the 2nd quarter. Chatham Capital Group Inc. now owns 89,099 shares of the iPhone maker’s stock valued at $17,283,000 after buying an additional 1,545 shares in the last quarter. Edge Wealth Management LLC raised its position in shares of Apple by 1.2% during the 2nd quarter. Edge Wealth Management LLC now owns 201,684 shares of the iPhone maker’s stock valued at $39,121,000 after buying an additional 2,466 shares in the last quarter. TPG Financial Advisors LLC raised its position in shares of Apple by 16.0% during the 2nd quarter. TPG Financial Advisors LLC now owns 1,884 shares of the iPhone maker’s stock valued at $365,000 after buying an additional 260 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC raised its position in shares of Apple by 6.2% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 14,429 shares of the iPhone maker’s stock valued at $2,799,000 after buying an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of several recent research reports. JPMorgan Chase & Co. restated an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. Piper Sandler upped their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Citigroup restated a “buy” rating and set a $240.00 target price on shares of Apple in a research report on Friday, August 4th. The Goldman Sachs Group cut their price target on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Finally, Oppenheimer upped their price target on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $200.54.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.
Apple Trading Up 0.3 %
NASDAQ:AAPL opened at $171.21 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The firm has a 50 day moving average of $181.22 and a 200 day moving average of $177.10. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.49 and a beta of 1.27.
Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is 16.13%.
Apple Company Profile
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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