Slow Capital Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 91,353 shares of the iPhone maker’s stock after purchasing an additional 576 shares during the quarter. Apple makes up 3.3% of Slow Capital Inc.’s investment portfolio, making the stock its 7th largest position. Slow Capital Inc.’s holdings in Apple were worth $21,285,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC boosted its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Granite Investment Partners LLC lifted its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares during the period. Finally, CHICAGO TRUST Co NA grew its stake in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after buying an additional 19,670 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on AAPL shares. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Finally, Bank of America raised their price target on shares of Apple to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.
Apple Stock Performance
Apple stock opened at $247.96 on Friday. The stock has a 50-day simple moving average of $231.63 and a 200 day simple moving average of $222.83. The stock has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 40.78, a P/E/G ratio of 2.42 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $250.80.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s payout ratio is 16.45%.
Insider Activity
In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. Company insiders own 0.06% of the company’s stock.
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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