Bank Pictet & Cie Europe AG Purchases 18,033 Shares of Apple Inc. $AAPL

Key Points

• Bank Pictet & Cie Europe AG increased its stake in Apple Inc. by 6.1% during the second quarter, acquiring an additional 18,033 shares, bringing its total holding to 315,639 shares valued at $64.76 million.
• Apple announced a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04, with a payout ratio of 15.78%.
• Despite a mixed outlook from analysts, with target prices ranging from $200 to $305, Apple Inc. holds a market cap of approximately $3.77 trillion and reported a robust quarterly revenue of $94.04 billion.

Bank Pictet & Cie Europe AG lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 315,639 shares of the iPhone maker's stock after acquiring an additional 18,033 shares during the period. Apple accounts for about 1.4% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 18th largest holding. Bank Pictet & Cie Europe AG's holdings in Apple were worth $64,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple in the 1st quarter worth approximately $58,000. Conquis Financial LLC purchased a new stake in Apple during the 4th quarter valued at $63,000. Finally, LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 1.6%

AAPL opened at $254.04 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $236.75 and a 200 day moving average price of $215.77. The company has a market cap of $3.77 trillion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last released 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. Apple's quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AAPL shares. The Goldman Sachs Group restated a "buy" rating and issued a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Phillip Securities cut Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a report on Thursday, September 11th. UBS Group reissued a "neutral" rating on shares of Apple in a report on Monday, September 8th. Tigress Financial lifted their target price on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Apple in a report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $248.29.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company's stock.

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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