Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,112,207 shares of the iPhone maker’s stock after selling 26,216 shares during the period. Apple accounts for 4.7% of Bank Julius Baer & Co. Ltd Zurich’s portfolio, making the stock its 2nd biggest position. Bank Julius Baer & Co. Ltd Zurich’s holdings in Apple were worth $797,645,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AAPL. Moneta Group Investment Advisors LLC boosted its holdings in 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 worth $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Norges Bank purchased a new stake in Apple in the fourth quarter worth about $21,746,940,000. Morgan Stanley raised its stake in Apple by 14.2% during the 4th 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 period. Berkshire Hathaway Inc raised its stake in Apple by 2.3% during the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after purchasing an additional 20,424,207 shares during the period. Finally, Providence Capital Advisors LLC grew its holdings in Apple by 16,638.6% during the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after buying an additional 15,500,812 shares in the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on AAPL. Piper Sandler raised their price objective on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Evercore ISI reissued an “outperform” rating and set a $210.00 price target on shares of Apple in a research note on Thursday, September 28th. UBS Group reissued a “neutral” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, September 27th. Canaccord Genuity Group raised their price target on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, KeyCorp reissued an “overweight” rating and set a $200.00 price target on shares of Apple in a research note on Thursday, September 14th. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $199.40.
Insider Activity at Apple
In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly 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 accessible through this link. In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s 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 approximately $565,809,142.50. The disclosure for this sale can be found here. In the last three months, insiders sold 455,004 shares of company stock worth $79,238,767. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
NASDAQ AAPL opened at $171.10 on Thursday. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average price is $177.47 and its 200 day moving average price is $179.06. The firm has a market cap of $2.68 trillion, a P/E ratio of 28.76, a P/E/G ratio of 2.33 and a beta of 1.28.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business 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 business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities research analysts expect that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.56%. Apple’s dividend 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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