Apple Inc. (NASDAQ:AAPL) is SouthState Corp’s 2nd Largest Position

SouthState Corp boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 295,296 shares of the iPhone maker’s stock after purchasing an additional 3,645 shares during the period. Apple comprises approximately 4.5% of SouthState Corp’s holdings, making the stock its 2nd largest position. SouthState Corp’s holdings in Apple were worth $62,195,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brown Financial Advisory lifted its stake in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. grew its stake in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC raised its holdings in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the period. Finally, Foresight Capital Management Advisors Inc. boosted its stake in Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Moffett Nathanson began coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. Barclays reaffirmed an “underweight” rating and set a $186.00 price objective on shares of Apple in a report on Tuesday, October 1st. Finally, KeyCorp reissued a “hold” rating and issued a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. One equities research 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 1.2 %

Shares of NASDAQ:AAPL opened at $235.00 on Monday. The firm 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 12 month low of $164.07 and a 12 month high of $237.49. The company’s fifty day simple moving average is $225.78 and its 200 day simple moving average is $208.38. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly 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. 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%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.