HCR Wealth Advisors Purchases 1,750 Shares of Apple Inc. $AAPL

Key Points

• HCR Wealth Advisors increased its stake in Apple Inc. by 0.3%, owning a total of 529,406 shares valued at approximately $108.6 million.
• Apple's stock opened at $252.29 with a market capitalization of $3.74 trillion, and it reported a quarterly revenue of $94.04 billion, exceeding analyst expectations.
• The company recently announced a quarterly dividend of $0.26 per share, yielding 0.4%, with a payout ratio of 15.78% for the year.

HCR Wealth Advisors raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 529,406 shares of the iPhone maker's stock after purchasing an additional 1,750 shares during the quarter. Apple accounts for 12.8% of HCR Wealth Advisors' investment portfolio, making the stock its biggest holding. HCR Wealth Advisors' holdings in Apple were worth $108,618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares in the last quarter. Northern Trust Corp boosted its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Apple by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker's stock worth $21,790,933,000 after purchasing an additional 984,157 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 2.0%

Shares of AAPL opened at $252.29 on Friday. The stock has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a 50-day moving average price of $241.13 and a two-hundred day moving average price of $216.86.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid 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 payout ratio is 15.78%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Monness Crespi & Hardt upped their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Citigroup reiterated a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Finally, Phillip Securities cut shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective for the company. in a report on Thursday, September 11th. Four equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.29.

Insider Activity

In other news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is currently owned by insiders.

About Apple

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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