Procyon Advisors LLC lifted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,182 shares of the iPhone maker’s stock after purchasing an additional 17,635 shares during the period. Apple comprises 4.4% of Procyon Advisors LLC’s portfolio, making the stock its largest holding. Procyon Advisors LLC’s holdings in Apple were worth $34,950,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Vanguard Group Inc. lifted its holdings in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares in the last quarter. Berkshire Hathaway Inc lifted its holdings in shares of Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after buying an additional 20,424,207 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after purchasing an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 0.9% in the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after purchasing an additional 2,421,295 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Apple by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after purchasing an additional 7,736,013 shares during the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of AAPL opened at $174.91 on Friday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The stock has a fifty day moving average price of $179.63 and a 200-day moving average price of $177.47. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.73 trillion, a PE ratio of 29.40, a P/E/G ratio of 2.31 and a beta of 1.28.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is currently 16.13%.
Insider Activity
In other news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold 321,524 shares of company stock valued at $55,530,770 over the last ninety days. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Apple in a report on Monday, September 25th. Barclays reissued an “equal weight” rating and issued a $167.00 target price on shares of Apple in a report on Tuesday, September 19th. TD Cowen increased their price target on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Wells Fargo & Company upped their price target on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Finally, Jefferies Financial Group dropped their price objective on Apple from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.54.
Read Our Latest Research Report on AAPL
About Apple
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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