Apple Inc. $AAPL is Burns J W & Co. Inc. NY's 2nd Largest Position

Key Points

• Burns J W & Co. Inc. NY reduced its stake in Apple Inc. by 1.2%, holding 316,386 shares, which constitutes about 7.9% of its total holdings and makes Apple its 2nd largest position.
• Apple's latest quarterly earnings report revealed a revenue of $94.04 billion and an EPS of $1.57, surpassing analysts' expectations.
• The current consensus rating for Apple among analysts is a "Moderate Buy" with an average price target of $245.66, reflecting optimism about the stock's future performance.

Burns J W & Co. Inc. NY lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 316,386 shares of the iPhone maker's stock after selling 3,865 shares during the period. Apple accounts for about 7.9% of Burns J W & Co. Inc. NY's holdings, making the stock its 2nd biggest position. Burns J W & Co. Inc. NY's holdings in Apple were worth $64,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AAPL. First National Bank of Hutchinson grew its holdings in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC lifted its position in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its position in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE lifted its position in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. HSBC set a $220.00 target price on Apple and gave the company a "hold" rating in a research report on Monday, September 8th. Wedbush set a $310.00 price objective on Apple and gave the company an "outperform" rating in a research report on Monday, September 22nd. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Tigress Financial raised their price target on shares of Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, September 17th. Finally, Evercore ISI set a $290.00 price target on shares of Apple and gave the company an "outperform" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $245.66.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

NASDAQ AAPL opened at $255.46 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.65 and a beta of 1.11. The business's 50-day simple moving average is $228.87 and its 200-day simple moving average is $213.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is 15.78%.

Apple Company Profile

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.

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