Modera Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,278 shares of the iPhone maker’s stock after purchasing an additional 2,406 shares during the quarter. Apple comprises 0.8% of Modera Wealth Management LLC’s portfolio, making the stock its 16th largest position. Modera Wealth Management LLC’s holdings in Apple were worth $3,569,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Summit Trail Advisors LLC boosted its stake in Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after purchasing an additional 20,067,124 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock valued at $89,526,000 after purchasing an additional 16,668,866 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Apple during the 1st quarter valued at $830,026,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Apple by 6.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock valued at $3,148,443,000 after purchasing an additional 1,030,981 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Apple by 4.3% during the 1st quarter. Fisher Asset Management LLC now owns 11,692,755 shares of the iPhone maker’s stock valued at $1,961,810,000 after purchasing an additional 485,781 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of Apple stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at $24,058,442.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,845 shares of company stock worth $47,015,677. 0.08% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on AAPL shares. UBS Group started coverage on Apple in a research note on Wednesday, September 12th. Maxim Group increased their price target on Apple to $221.00 and gave the company an “average” rating in a research note on Thursday, September 13th. Royal Bank of Canada increased their price target on Apple to $250.00 and gave the company an “average” rating in a research note on Wednesday, September 26th. Tigress Financial reaffirmed a “buy” rating on shares of Apple in a research note on Thursday, August 30th. Finally, HSBC set a $205.00 price target on Apple and gave the company a “buy” rating in a research note on Thursday, August 30th. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $219.67.
NASDAQ AAPL opened at $174.72 on Friday. Apple Inc. has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. The stock has a market cap of $868.46 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.27 and a beta of 1.20.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. Analysts anticipate that Apple Inc. will post 13.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Thursday, November 8th. Apple’s dividend payout ratio is currently 24.52%.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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