Consolidated Portfolio Review Corp Purchases 1,827 Shares of Apple Inc. $AAPL

Key Points

• Consolidated Portfolio Review Corp has increased its stake in Apple Inc. by 0.9%, now owning 204,052 shares valued at approximately $41.87 million, making Apple its largest investment.
• A recent analyst report indicates that shares of Apple have a consensus target price of $248.29, with ratings ranging from "Strong Buy" to "Sell" from various brokerages.
• Insiders, including CEO Tim Cook, recently sold a total of 259,121 shares of Apple stock, raising over $65 million, which may indicate shifting strategies among company leaders.

Consolidated Portfolio Review Corp increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,052 shares of the iPhone maker's stock after buying an additional 1,827 shares during the period. Apple accounts for approximately 5.8% of Consolidated Portfolio Review Corp's investment portfolio, making the stock its biggest position. Consolidated Portfolio Review Corp's holdings in Apple were worth $41,865,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new position in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. Elite Financial Inc. bought a new position in Apple during the first quarter worth $58,000. LSV Asset Management bought a new position in Apple during the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple during the first quarter worth $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. Rosenblatt Securities boosted their target price on shares of Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Citigroup reissued a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, Seaport Res Ptn raised shares of Apple to a "strong-buy" rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $248.29.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 in the last ninety days. Insiders own 0.06% of the company's stock.

Apple Trading Up 2.0%

AAPL opened at $252.29 on Monday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a 50-day simple moving average of $241.13 and a 200 day simple moving average of $216.91. 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 stock has a market capitalization of $3.74 trillion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09.

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

Apple Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is presently 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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