Beacon Investment Advisory Services Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 334,961 shares of the iPhone maker’s stock after purchasing an additional 9,868 shares during the quarter. Apple comprises 3.0% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 6th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in Apple were worth $64,972,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Parker Financial LLC boosted its position in Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock worth $881,000 after purchasing an additional 54 shares in the last quarter. MKT Advisors LLC boosted its position in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares in the last quarter. Professional Financial Advisors LLC boosted its position in Apple by 0.5% in the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after purchasing an additional 62 shares in the last quarter. Aspire Capital Advisors LLC boosted its position in Apple by 0.5% in the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after purchasing an additional 64 shares in the last quarter. Finally, Orgel Wealth Management LLC raised its position in shares of Apple by 0.7% in the second quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock worth $1,731,000 after acquiring an additional 66 shares during the period. Institutional investors own 58.51% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Canaccord Genuity Group boosted their price objective on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Piper Sandler boosted their price objective on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Wedbush boosted their price objective on Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Finally, Piper Sandler Companies boosted their price objective on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Nine analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.40.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 65,536 shares of the 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 transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Deirdre O’brien sold 65,536 shares of the 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 transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value 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. In the last quarter, insiders sold 455,004 shares of company stock valued at $79,238,767. Company insiders own 0.06% of the company’s stock.
Apple Stock Up 0.3 %
Shares of NASDAQ:AAPL opened at $173.44 on Wednesday. The business has a 50-day moving average price of $177.58 and a 200 day moving average price of $179.11. 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 company has a market capitalization of $2.71 trillion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.32 and a beta of 1.28. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. Sell-side analysts expect that Apple Inc. will post 6.05 EPS for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s payout ratio is currently 16.13%.
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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