Bailard Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 881,381 shares of the iPhone maker’s stock after selling 17,834 shares during the period. Apple comprises about 6.0% of Bailard Inc.’s holdings, making the stock its largest holding. Bailard Inc.’s holdings in Apple were worth $170,961,000 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. Naviter Wealth LLC boosted its stake in shares of Apple by 21.7% in the 2nd quarter. Naviter Wealth LLC now owns 59,816 shares of the iPhone maker’s stock valued at $11,603,000 after purchasing an additional 10,646 shares in the last quarter. Parker Financial LLC boosted its position in Apple by 1.2% during the second quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after buying an additional 54 shares during the period. Inspirion Wealth Advisors LLC boosted its position in Apple by 0.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 59,329 shares of the iPhone maker’s stock valued at $11,508,000 after buying an additional 152 shares during the period. PFG Advisors grew its stake in shares of Apple by 1.0% during the second quarter. PFG Advisors now owns 228,441 shares of the iPhone maker’s stock valued at $44,311,000 after buying an additional 2,340 shares during the last quarter. Finally, Tiedemann Advisors LLC lifted its stake in shares of Apple by 23.1% in the 2nd quarter. Tiedemann Advisors LLC now owns 156,144 shares of the iPhone maker’s stock valued at $30,287,000 after acquiring an additional 29,257 shares during the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of Apple stock opened at $175.84 on Thursday. The stock has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 2.40 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm’s 50-day moving average is $177.94 and its 200 day moving average is $178.77.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.
Insider Activity
In related news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was 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 directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. Insiders have sold a total of 455,004 shares of company stock valued at $79,238,767 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft raised their price target on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Jefferies Financial Group lowered their price target on shares of Apple from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, August 4th. Tigress Financial raised their price target on shares of Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Bank of America reaffirmed a “neutral” rating and set a $208.00 price objective on shares of Apple in a research note on Friday, September 22nd. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $195.00 target price on shares of Apple in a research note on Monday, October 9th. Nine research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.40.
Check Out Our Latest Stock Analysis on Apple
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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