Apple Inc. $AAPL Shares Bought by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA significantly increased its stake in Apple Inc., acquiring 3,258,726 shares in the first quarter, bringing its total holdings to approximately 4.5 million shares valued at about $925.5 million.
• Despite a recent stock sale by an Apple senior vice president, the company continues to have strong institutional support, with 67.73% of Apple shares held by institutional investors.
• Apple's recent earnings report showed a 9.6% revenue increase year-over-year, with earnings per share of $1.57, exceeding analyst expectations.

Banque Transatlantique SA lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 260.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,508,384 shares of the iPhone maker's stock after purchasing an additional 3,258,726 shares during the quarter. Apple comprises 17.3% of Banque Transatlantique SA's portfolio, making the stock its 2nd largest position. Banque Transatlantique SA's holdings in Apple were worth $925,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First National Bank of Hutchinson grew its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC grew its stake in shares of Apple by 14.8% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of 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 purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 0.6%

NASDAQ AAPL traded up $1.45 on Tuesday, hitting $238.15. 63,364,012 shares of the company were exchanged, compared to its average volume of 45,474,312. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 2.46 and a beta of 1.11. The company's 50 day moving average price is $222.59 and its 200-day moving average price is $212.17.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $88.64 billion. During the same period last year, the company posted $1.40 earnings per share. The business's revenue for the quarter was up 9.6% on a year-over-year basis. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio is presently 15.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAPL. Loop Capital decreased their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. The Goldman Sachs Group reissued a "buy" rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Finally, Morgan Stanley set a $240.00 target price on Apple and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.77.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.