Eagle Global Advisors LLC lessened its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,141 shares of the iPhone maker’s stock after selling 55,587 shares during the period. Apple comprises about 5.7% of Eagle Global Advisors LLC’s portfolio, making the stock its largest holding. Eagle Global Advisors LLC’s holdings in Apple were worth $86,926,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Moneta Group Investment Advisors LLC grew its position 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 valued at $74,002,245,000 after purchasing an additional 569,066,184 shares during the last quarter. Norges Bank acquired a new position in shares of Apple in the fourth quarter valued at approximately $21,746,940,000. Morgan Stanley grew its position in shares of Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after purchasing an additional 25,926,552 shares during the last quarter. Berkshire Hathaway Inc boosted its position 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 valued at $150,975,907,000 after acquiring an additional 20,424,207 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in shares of Apple by 16,638.6% in the first quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after acquiring an additional 15,500,812 shares during the period. Institutional investors own 58.51% of the company’s stock.
Analyst Ratings Changes
AAPL has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on shares of Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Morgan Stanley dropped their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Canaccord Genuity Group lifted their price target on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Wells Fargo & Company raised their price target on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Finally, Piper Sandler Companies raised their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.40.
Apple Stock Performance
AAPL stock opened at $173.44 on Wednesday. The stock has a 50-day moving average price of $177.58 and a 200-day moving average price of $179.11. Apple Inc. has a 1-year low of $124.17 and a 1-year 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 firm has a market cap of $2.71 trillion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same period last year, the company posted $1.20 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Dividend Announcement
The business also recently disclosed 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. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is 16.13%.
Insider Transactions at Apple
In other 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 transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was 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 directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock valued at $79,238,767 in the last quarter. 0.06% of the stock is currently owned by company 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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