Cardinal Capital Management raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,738 shares of the iPhone maker's stock after acquiring an additional 3,979 shares during the period. Apple accounts for about 2.6% of Cardinal Capital Management's investment portfolio, making the stock its 4th biggest holding. Cardinal Capital Management's holdings in Apple were worth $18,001,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. West Oak Capital LLC boosted its stake in Apple by 2.0% in the second quarter. West Oak Capital LLC now owns 28,502 shares of the iPhone maker's stock valued at $5,848,000 after acquiring an additional 565 shares during the period. Seek First Inc. boosted its stake in Apple by 3.7% in the second quarter. Seek First Inc. now owns 121,726 shares of the iPhone maker's stock valued at $24,975,000 after acquiring an additional 4,383 shares during the period. Crew Capital Management Ltd. boosted its stake in Apple by 7.2% in the second quarter. Crew Capital Management Ltd. now owns 29,399 shares of the iPhone maker's stock valued at $6,032,000 after acquiring an additional 1,976 shares during the period. CHICAGO TRUST Co NA boosted its stake in Apple by 12.1% in the second quarter. CHICAGO TRUST Co NA now owns 164,087 shares of the iPhone maker's stock valued at $33,666,000 after acquiring an additional 17,758 shares during the period. Finally, Opal Wealth Advisors LLC boosted its stake in Apple by 2.7% in the second quarter. Opal Wealth Advisors LLC now owns 59,407 shares of the iPhone maker's stock valued at $12,188,000 after acquiring an additional 1,538 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Price Performance
NASDAQ AAPL opened at $258.02 on Friday. The stock has a market capitalization of $3.83 trillion, a P/E ratio of 39.15, a P/E/G ratio of 2.49 and a beta of 1.09. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business's fifty day moving average is $233.09 and its two-hundred day moving average is $214.69. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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%.
Insider Buying and Selling at Apple
In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were 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 of the company's stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 in the last three months. 0.06% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded Apple to a "strong-buy" rating in a research report on Wednesday. Monness Crespi & Hardt boosted their price objective on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, DA Davidson reiterated a "neutral" rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 11th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $247.49.
Get Our Latest Stock Report on AAPL
Apple Profile
(
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
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