Apple Inc. (NASDAQ:AAPL) is Crestwood Advisors Group LLC’s Largest Position

Crestwood Advisors Group LLC reduced its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,452,118 shares of the iPhone maker’s stock after selling 3,498 shares during the period. Apple makes up about 6.3% of Crestwood Advisors Group LLC’s holdings, making the stock its largest holding. Crestwood Advisors Group LLC’s holdings in Apple were worth $305,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Access Investment Management LLC bought a new position in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP increased its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter worth approximately $208,000. Sequent Asset Management LLC purchased a new stake in Apple in the second quarter valued at approximately $214,000. Finally, Financial Life Advisors bought a new stake in Apple during the fourth quarter valued at approximately $212,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % 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 Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Apple stock opened at $233.85 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market cap of $3.59 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.40 and a beta of 1.24. The stock’s 50 day simple moving average is $224.59 and its two-hundred day simple moving average is $207.04. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AAPL shares. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $300.00 in a research report on Monday, July 15th. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Moffett Nathanson initiated coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective on the stock. Finally, Tigress Financial increased their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $239.27.

Read Our Latest Analysis on Apple

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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