Gateway Investment Advisers LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,907,424 shares of the iPhone maker's stock after selling 87,526 shares during the period. Apple accounts for approximately 6.9% of Gateway Investment Advisers LLC's holdings, making the stock its 2nd biggest holding. Gateway Investment Advisers LLC's holdings in Apple were worth $612,362,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Francis Financial Inc. raised its position in shares of Apple by 8.5% in the 2nd quarter. Francis Financial Inc. now owns 17,254 shares of the iPhone maker's stock valued at $3,634,000 after acquiring an additional 1,352 shares during the period. Atlas Private Wealth Advisors raised its holdings in Apple by 97.7% during the 2nd quarter. Atlas Private Wealth Advisors now owns 97,451 shares of the iPhone maker's stock worth $20,527,000 after buying an additional 48,161 shares during the period. Twelve Points Wealth Management LLC raised its holdings in Apple by 134.5% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 19,026 shares of the iPhone maker's stock worth $4,007,000 after buying an additional 10,911 shares during the period. Sendero Wealth Management LLC raised its holdings in Apple by 258.4% during the 2nd quarter. Sendero Wealth Management LLC now owns 62,756 shares of the iPhone maker's stock worth $13,218,000 after buying an additional 45,245 shares during the period. Finally, Opal Wealth Advisors LLC raised its holdings in Apple by 8.5% during the 2nd quarter. Opal Wealth Advisors LLC now owns 31,927 shares of the iPhone maker's stock worth $6,724,000 after buying an additional 2,496 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 100,000 shares of the business's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on AAPL shares. Moffett Nathanson started coverage on shares of Apple in a report on Monday, August 19th. They set a "neutral" rating and a $211.00 target price on the stock. Wedbush raised their target price on shares of Apple from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $260.00 price target on shares of Apple in a research note on Monday, August 5th. Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Finally, StockNews.com raised shares of Apple from a "hold" rating to a "buy" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $237.30.
Get Our Latest Research Report on Apple
Apple Price Performance
Apple stock traded down $6.23 during midday trading on Tuesday, reaching $222.77. The company's stock had a trading volume of 50,055,398 shares, compared to its average volume of 61,625,398. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $222.30 and a 200-day moving average price of $196.25. The stock has a market cap of $3.42 trillion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to analysts' expectations of $84.43 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The business's revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple's dividend payout ratio (DPR) is currently 15.55%.
Apple Profile
(
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.
Further Reading
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
