Apple Inc. (NASDAQ:AAPL) is Belpointe Asset Management LLC’s Largest Position

Belpointe Asset Management LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 362,722 shares of the iPhone maker’s stock after purchasing an additional 4,089 shares during the period. Apple comprises 5.3% of Belpointe Asset Management LLC’s holdings, making the stock its biggest position. Belpointe Asset Management LLC’s holdings in Apple were worth $76,397,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Capital International Investors lifted its position in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares during the period. Jennison Associates LLC raised its stake in shares of Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after acquiring an additional 485,873 shares in the last quarter. Swedbank AB raised its stake in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Apple by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after acquiring an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Apple by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after acquiring an additional 415,186 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last three months. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AAPL shares. Robert W. Baird boosted their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Cfra boosted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. TD Cowen upped their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group restated a “hold” rating and set a $236.00 price target on shares of Apple in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Performance

AAPL opened at $235.00 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm’s fifty day simple moving average is $225.78 and its two-hundred day simple moving average is $207.84.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple 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.