Advocate Group LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,867 shares of the iPhone maker’s stock after selling 734 shares during the quarter. Apple comprises 2.7% of Advocate Group LLC’s investment portfolio, making the stock its 3rd biggest holding. Advocate Group LLC’s holdings in Apple were worth $12,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Atlantic Private Wealth LLC bought a new stake in shares of Apple during the first quarter worth about $30,000. Summit Wealth Group LLC increased its position in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC increased its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC increased its position in shares of Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after acquiring an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its position in shares of Apple by 10.6% during the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $175.84 on Thursday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. 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 stock has a market cap of $2.75 trillion, a P/E ratio of 29.55, a P/E/G ratio of 2.40 and a beta of 1.28. The company has a 50 day moving average of $177.94 and a 200 day moving average of $178.77.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders 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 dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is currently 16.13%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on AAPL. Piper Sandler lifted their target price on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Apple in a research report on Wednesday, September 13th. Tigress Financial raised their price target on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $198.00 price target on shares of Apple in a research report on Tuesday, September 12th. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.40.
Check Out Our Latest Stock Analysis on Apple
Insider Activity
In other news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 455,004 shares of company stock worth $79,238,767. 0.06% of the stock is currently owned by insiders.
Apple 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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