Flower City Capital raised its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,355 shares of the iPhone maker’s stock after buying an additional 1,857 shares during the quarter. Apple accounts for 2.6% of Flower City Capital’s investment portfolio, making the stock its 9th largest holding. Flower City Capital’s holdings in Apple were worth $2,203,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Brave Asset Management Inc. increased its holdings in shares of Apple by 2.3% during the second quarter. Brave Asset Management Inc. now owns 94,041 shares of the iPhone maker’s stock valued at $18,241,000 after acquiring an additional 2,156 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Apple by 2.1% during the second quarter. Salomon & Ludwin LLC now owns 92,208 shares of the iPhone maker’s stock valued at $17,886,000 after acquiring an additional 1,935 shares in the last quarter. Commonwealth Retirement Investments LLC grew its holdings in Apple by 13.9% during the second quarter. Commonwealth Retirement Investments LLC now owns 8,621 shares of the iPhone maker’s stock worth $1,672,000 after buying an additional 1,055 shares in the last quarter. Guinness Asset Management LTD grew its holdings in Apple by 7.1% during the second quarter. Guinness Asset Management LTD now owns 129,690 shares of the iPhone maker’s stock worth $25,155,000 after buying an additional 8,590 shares in the last quarter. Finally, Cascade Investment Advisors Inc. grew its holdings in Apple by 0.4% during the second quarter. Cascade Investment Advisors Inc. now owns 27,449 shares of the iPhone maker’s stock worth $5,324,000 after buying an additional 105 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
AAPL opened at $171.10 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The stock has a market capitalization of $2.68 trillion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28. The stock’s 50 day moving average price is $177.47 and its 200-day moving average price is $179.06.
Apple Announces Dividend
The company also recently declared 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 annualized dividend and a dividend yield of 0.56%. Apple’s dividend payout ratio is presently 16.13%.
Insider Activity at Apple
In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 sale, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock worth $79,238,767 over the last ninety days. 0.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
AAPL has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Apple in a research report on Wednesday, September 13th. Evercore ISI reaffirmed an “outperform” rating and set a $210.00 target price on shares of Apple in a research report on Thursday, September 28th. Piper Sandler Companies raised 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. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.40.
Check Out Our Latest Stock Analysis on AAPL
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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