ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,304 shares of the iPhone maker’s stock after purchasing an additional 3,490 shares during the period. Apple accounts for about 1.6% of ICICI Prudential Asset Management Co Ltd’s portfolio, making the stock its 9th largest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Apple were worth $12,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Von Berge Wealth Management Group LLC boosted its stake in Apple by 0.5% in the second quarter. Von Berge Wealth Management Group LLC now owns 16,497 shares of the iPhone maker’s stock valued at $3,200,000 after acquiring an additional 74 shares in the last quarter. Cornerstone Wealth Advisors Inc. boosted its stake in Apple by 96.2% in the second quarter. Cornerstone Wealth Advisors Inc. now owns 8,949 shares of the iPhone maker’s stock valued at $1,736,000 after acquiring an additional 4,388 shares in the last quarter. Baugh & Associates LLC boosted its stake in Apple by 1.4% in the second quarter. Baugh & Associates LLC now owns 73,909 shares of the iPhone maker’s stock valued at $14,336,000 after acquiring an additional 1,028 shares in the last quarter. Sabal Trust CO boosted its stake in Apple by 93.5% in the second quarter. Sabal Trust CO now owns 76,135 shares of the iPhone maker’s stock valued at $14,768,000 after acquiring an additional 36,787 shares in the last quarter. Finally, Black Swift Group LLC boosted its stake in Apple by 45.3% in the second quarter. Black Swift Group LLC now owns 16,034 shares of the iPhone maker’s stock valued at $3,110,000 after acquiring an additional 5,000 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on AAPL. UBS Group reissued a “neutral” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, September 27th. Citigroup reissued a “buy” rating and set a $240.00 price target on shares of Apple in a report on Friday, August 4th. Evercore ISI reissued an “outperform” rating and set a $210.00 price target on shares of Apple in a report on Thursday, September 28th. Piper Sandler raised their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Finally, Canaccord Genuity Group raised their price target on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.40.
Insider Activity at Apple
In related news, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the transaction, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated 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 in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 455,004 shares of company stock worth $79,238,767. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
NASDAQ AAPL opened at $177.15 on Wednesday. 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’s fifty day moving average price is $177.99 and its two-hundred day moving average price is $178.79. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm has a market capitalization of $2.77 trillion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. Apple’s dividend payout ratio (DPR) is presently 16.13%.
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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