Apple Inc. (NASDAQ:AAPL) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 11.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,239,346 shares of the iPhone maker’s stock after buying an additional 232,933 shares during the period. Apple makes up about 3.4% of NewEdge Advisors LLC’s holdings, making the stock its biggest holding. NewEdge Advisors LLC’s holdings in Apple were worth $471,651,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Capital International Investors boosted its holdings in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 over the last three months. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.4 %

NASDAQ AAPL opened at $225.00 on Friday. The stock has a market cap of $3.40 trillion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a 50 day simple moving average of $226.96 and a two-hundred day simple moving average of $215.60. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Citigroup boosted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Maxim Group boosted their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Company 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.