Burns J W & Co. Inc. NY decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 332,334 shares of the iPhone maker's stock after selling 14,393 shares during the quarter. Apple makes up 10.1% of Burns J W & Co. Inc. NY's investment portfolio, making the stock its largest position. Burns J W & Co. Inc. NY's holdings in Apple were worth $77,434,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Granite Investment Partners LLC boosted its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock worth $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp increased its holdings in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC lifted its stake in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker's stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Bellwether Advisors LLC boosted its holdings in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker's stock valued at $5,128,000 after purchasing an additional 19,352 shares during the period. Finally, Gentry Private Wealth LLC purchased a new position in shares of Apple during the 2nd quarter valued at $876,000. Hedge funds and other institutional investors own 60.41% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AAPL. Wedbush reiterated an "outperform" rating and issued a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. StockNews.com lowered Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. KeyCorp downgraded shares of Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Finally, Piper Sandler reissued a "neutral" rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.25.
Read Our Latest Stock Analysis on AAPL
Apple Stock Up 0.6 %
Shares of AAPL stock traded up $1.33 during mid-day trading on Friday, reaching $229.85. 4,135,982 shares of the company's stock traded hands, compared to its average volume of 58,095,512. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market cap of $3.47 trillion, a P/E ratio of 37.57, a P/E/G ratio of 2.24 and a beta of 1.24. The company's 50-day moving average price is $227.59 and its 200-day moving average price is $217.47. 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 (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.
Insider Buying and Selling at Apple
In other Apple news, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company's stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company's stock.
Apple Company Profile
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Free Report)
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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