Chase Investment Counsel Corp Grows Position in Apple Inc. (NASDAQ:AAPL)

Chase Investment Counsel Corp raised its stake in Apple Inc. (NASDAQ:AAPL) by 795.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,696 shares of the iPhone maker’s stock after acquiring an additional 30,821 shares during the period. Apple comprises about 2.3% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 8th largest position. Chase Investment Counsel Corp’s holdings in Apple were worth $7,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of AAPL. Swedbank AB bought a new stake in shares of Apple during the first quarter worth $3,026,492,000. Global Assets Advisory LLC grew its position 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 buying an additional 9,200,345 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of 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 worth $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the period. Finally, Natixis increased its holdings in Apple by 127.7% in the first quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock valued at $794,465,000 after purchasing an additional 2,598,742 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the company’s 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 completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Chris Kondo sold 5,178 shares of the company’s 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 completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

AAPL stock opened at $235.00 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a market cap of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The stock has a 50-day moving average price of $225.78 and a 200-day moving average price of $208.11. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating 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 analyst estimates of $84.43 billion. During the same period in the previous year, the company posted $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AAPL shares. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. UBS Group restated a “hold” rating and set a $236.00 price objective on shares of Apple in a report on Wednesday. Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and upped their price objective for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Finally, KeyCorp reaffirmed a “hold” rating and set a $247.61 price objective on shares of Apple in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple Company 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.