Appleton Partners Inc. MA grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 480,773 shares of the iPhone maker’s stock after buying an additional 872 shares during the quarter. Apple comprises 6.2% of Appleton Partners Inc. MA’s investment portfolio, making the stock its biggest holding. Appleton Partners Inc. MA’s holdings in Apple were worth $65,731,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Donald L. Hagan LLC grew its holdings in shares of Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares during the period. Goodwin Daniel L grew its holdings in shares of Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC grew its holdings in shares of Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares during the period. Norwood Financial Corp grew its holdings in shares of Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares during the period. Finally, Investors Research Corp grew its holdings in shares of Apple by 0.4% during the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after purchasing an additional 66 shares during the period. 57.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on AAPL shares. Wells Fargo & Company decreased their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target for the company. Fundamental Research set a $177.07 price target on Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. Rosenblatt Securities decreased their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, Bank of America decreased their price target on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.52.
Apple Trading Down 1.1 %
Shares of AAPL stock opened at $150.70 on Monday. The stock has a 50-day simple moving average of $159.65 and a 200 day simple moving average of $156.02. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 24.87, a P/E/G ratio of 1.95 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter last year, the company posted $1.30 EPS. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s dividend payout ratio (DPR) is 15.18%.
Insider Activity at Apple
In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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