Silicon Valley Capital Partners grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,743 shares of the iPhone maker's stock after purchasing an additional 28,799 shares during the period. Apple comprises approximately 7.7% of Silicon Valley Capital Partners' investment portfolio, making the stock its 3rd largest position. Silicon Valley Capital Partners' holdings in Apple were worth $59,122,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of AAPL. Cohen Capital Management Inc. lifted its position in shares of Apple by 12.8% during the 3rd quarter. Cohen Capital Management Inc. now owns 13,005 shares of the iPhone maker's stock valued at $3,030,000 after acquiring an additional 1,476 shares during the period. Wetzel Investment Advisors Inc. boosted its stake in shares of Apple by 5.0% in the 3rd quarter. Wetzel Investment Advisors Inc. now owns 14,595 shares of the iPhone maker's stock worth $3,401,000 after buying an additional 700 shares during the last quarter. Vestor Capital LLC grew its stake in Apple by 9.9% in the 3rd quarter. Vestor Capital LLC now owns 534,795 shares of the iPhone maker's stock valued at $124,607,000 after purchasing an additional 48,327 shares during the period. Intact Investment Management Inc. increased its holdings in Apple by 0.7% during the third quarter. Intact Investment Management Inc. now owns 43,300 shares of the iPhone maker's stock worth $10,089,000 after buying an additional 320 shares during the last quarter. Finally, Old North State Wealth Management LLC lifted its stake in Apple by 99.2% in the third quarter. Old North State Wealth Management LLC now owns 27,050 shares of the iPhone maker's stock valued at $6,309,000 after purchasing an additional 13,472 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on 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 transaction, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Wedbush upped their price objective on shares of Apple from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, December 26th. Sanford C. Bernstein lifted their target price on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Jefferies Financial Group cut shares of Apple from a "buy" rating to a "hold" rating and lifted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, StockNews.com downgraded Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $237.64.
Read Our Latest Research Report on Apple
Apple Stock Up 0.2 %
NASDAQ AAPL traded up $0.49 during trading on Wednesday, reaching $242.70. 37,560,095 shares of the company's stock were exchanged, compared to its average volume of 43,806,977. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The stock has a market cap of $3.67 trillion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a 50 day moving average price of $239.57 and a two-hundred day moving average price of $229.66.
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, beating analysts' consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during 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%. Apple's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio (DPR) is presently 16.45%.
About Apple
(
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
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
