Bessemer Group Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,365,622 shares of the iPhone maker’s stock after selling 17,713 shares during the quarter. Apple accounts for about 2.4% of Bessemer Group Inc.’s investment portfolio, making the stock its 2nd largest position. Bessemer Group Inc. owned approximately 0.07% of Apple worth $623,011,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Townsend & Associates Inc increased its position in Apple by 6.8% in the second quarter. Townsend & Associates Inc now owns 4,204 shares of the iPhone maker’s stock worth $778,000 after purchasing an additional 268 shares during the last quarter. Dorsey Wright & Associates increased its position in Apple by 9.2% in the second quarter. Dorsey Wright & Associates now owns 3,205 shares of the iPhone maker’s stock worth $593,000 after purchasing an additional 270 shares during the last quarter. Marcus Capital LLC increased its position in Apple by 6.8% in the first quarter. Marcus Capital LLC now owns 4,342 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 275 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its position in Apple by 2.6% in the second quarter. Signature Estate & Investment Advisors LLC now owns 10,931 shares of the iPhone maker’s stock worth $2,023,000 after purchasing an additional 276 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its position in Apple by 0.5% in the first quarter. Canandaigua National Bank & Trust Co. now owns 51,711 shares of the iPhone maker’s stock worth $8,676,000 after purchasing an additional 280 shares during the last quarter. 58.43% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on AAPL. Loop Capital boosted their price target on shares of Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 6th. BidaskClub cut shares of Apple from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. Morgan Stanley restated a “buy” rating and issued a $247.00 price target on shares of Apple in a research report on Wednesday, September 26th. JPMorgan Chase & Co. restated a “buy” rating and issued a $272.00 price target on shares of Apple in a research report on Wednesday, October 10th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $240.00 price target on shares of Apple in a research report on Tuesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirty have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $225.87.
In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Federighi sold 47,796 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $207.50, for a total transaction of $9,917,670.00. Following the sale, the insider now directly owns 412,571 shares of the company’s stock, valued at $85,608,482.50. The disclosure for this sale can be found here. Insiders have sold 544,185 shares of company stock valued at $120,312,613 over the last three months. Insiders own 0.08% of the company’s stock.
Shares of AAPL opened at $222.22 on Friday. The firm has a market cap of $1,048.40 billion, a PE ratio of 24.13, a P/E/G ratio of 1.51 and a beta of 1.36. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84.
Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 earnings per share. Analysts predict that Apple Inc. will post 11.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.31%. Apple’s dividend payout ratio is currently 31.70%.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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