Perennial Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,724 shares of the iPhone maker's stock after selling 2,283 shares during the period. Apple makes up approximately 6.0% of Perennial Advisors LLC's holdings, making the stock its 2nd largest holding. Perennial Advisors LLC's holdings in Apple were worth $26,901,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Stegner Investment Associates Inc. acquired a new position in shares of Apple in the second quarter valued at $558,000. Rockland Trust Co. raised its stake in shares of Apple by 3.5% in the 2nd quarter. Rockland Trust Co. now owns 261,629 shares of the iPhone maker's stock valued at $55,104,000 after buying an additional 8,821 shares in the last quarter. Macroview Investment Management LLC lifted its holdings in shares of Apple by 6.9% during the 2nd quarter. Macroview Investment Management LLC now owns 9,649 shares of the iPhone maker's stock worth $2,032,000 after acquiring an additional 625 shares during the period. First Bancorp Inc ME boosted its position in shares of Apple by 3.3% during the 2nd quarter. First Bancorp Inc ME now owns 30,201 shares of the iPhone maker's stock valued at $6,361,000 after acquiring an additional 956 shares in the last quarter. Finally, Iowa State Bank increased its stake in Apple by 1.8% in the second quarter. Iowa State Bank now owns 83,106 shares of the iPhone maker's stock valued at $17,504,000 after acquiring an additional 1,431 shares during the period. Institutional investors and hedge funds own 60.41% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Moffett Nathanson assumed coverage on shares of Apple in a research note on Monday, August 19th. They set a "neutral" rating and a $211.00 price target for the company. StockNews.com raised Apple from a "hold" rating to a "buy" rating in a research note on Friday. Loop Capital upgraded Apple from a "hold" rating to a "buy" rating and increased their price objective for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, Bank of America reaffirmed a "buy" rating and issued a $256.00 target price on shares of Apple in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $239.17.
Check Out Our Latest Stock Report on AAPL
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 8,706 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company's stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company's stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. Company insiders own 0.06% of the company's stock.
Apple Price Performance
Apple stock opened at $226.47 on Tuesday. 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 firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.22, a PEG ratio of 2.62 and a beta of 1.24. The business has a 50-day moving average of $222.25 and a 200-day moving average of $200.82. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $85.78 billion during the quarter, compared to analysts' expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple's dividend payout ratio is presently 15.55%.
Apple 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.
Further Reading
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