Foundations Investment Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 70.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,402 shares of the iPhone maker’s stock after buying an additional 46,554 shares during the quarter. Apple comprises approximately 0.7% of Foundations Investment Advisors LLC’s holdings, making the stock its 22nd largest holding. Foundations Investment Advisors LLC’s holdings in Apple were worth $16,065,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Apple in the fourth quarter worth $25,228,507,000. Aaron Wealth Advisors LLC increased its stake in Apple by 30,391.8% in the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after purchasing an additional 25,989,570 shares during the period. State Street Corp increased its stake in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Capital Research Global Investors increased its stake in Apple by 31.7% in the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after purchasing an additional 9,354,484 shares during the period. Finally, Vanguard Group Inc. increased its stake in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. 57.72% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Luca Maestri sold 96,735 shares of the company’s 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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
AAPL has been the topic of several research reports. Evercore ISI raised their price target on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. The Goldman Sachs Group restated a “neutral” rating and set a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, September 12th. UBS Group set a $185.00 price target on Apple in a research note on Wednesday, September 14th. Finally, Itaú Unibanco initiated coverage on Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.
Apple Stock Down 1.1 %
Apple stock opened at $150.70 on Monday. The stock has a market capitalization of $2.42 trillion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The business has a 50 day simple moving average of $159.65 and a 200-day simple moving average of $156.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.11 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.
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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