CGN Advisors LLC Buys 2,273 Shares of Apple Inc. (NASDAQ:AAPL)

CGN Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,952 shares of the iPhone maker’s stock after acquiring an additional 2,273 shares during the quarter. Apple comprises approximately 0.9% of CGN Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. CGN Advisors LLC’s holdings in Apple were worth $7,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AAPL. Wyrmwood Management LLC grew its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new position in Apple during the fourth quarter worth about $39,000. Gilfoyle & Co LLC lifted its holdings in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. grew its stake in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the fourth quarter worth about $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AAPL. Morgan Stanley reiterated an “overweight” rating and issued a $216.00 price objective on shares of Apple in a research report on Tuesday, June 11th. Loop Capital reduced their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Wedbush raised their price objective on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Evercore ISI upped their target price on shares of Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Finally, UBS Group reiterated a “neutral” rating and set a $190.00 target price on shares of Apple in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Apple Price Performance

NASDAQ:AAPL opened at $210.62 on Friday. The company has a market cap of $3.23 trillion, a P/E ratio of 32.76, a P/E/G ratio of 2.60 and a beta of 1.25. The firm’s fifty day moving average price is $192.13 and its two-hundred day moving average price is $185.40. Apple Inc. has a one year low of $164.07 and a one year high of $220.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the prior year, the firm earned $1.52 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s payout ratio is 15.55%.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 in the last ninety days. 0.06% of the stock is currently owned by corporate 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.