NewSquare Capital LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

NewSquare Capital LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,155 shares of the iPhone maker’s stock after buying an additional 1,751 shares during the period. NewSquare Capital LLC’s holdings in Apple were worth $7,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Apple in the fourth quarter worth approximately $33,912,466,000. Vanguard Group Inc. increased its holdings in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Swedbank AB bought a new position in shares of Apple in the 1st quarter worth $3,026,492,000. Global Assets Advisory LLC lifted its stake in shares of Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after purchasing an additional 9,200,345 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Down 0.8 %

Apple stock opened at $226.47 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.47 trillion, a PE ratio of 35.22, a P/E/G ratio of 2.62 and a beta of 1.24. The stock’s 50 day simple moving average is $222.25 and its two-hundred day simple moving average is $200.82. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. Analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. In the last three months, insiders sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Melius Research restated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, StockNews.com raised Apple from a “hold” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.17.

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.