Inspire Advisors LLC Has $2.92 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Inspire Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,867 shares of the iPhone maker’s stock after acquiring an additional 384 shares during the quarter. Apple comprises 0.4% of Inspire Advisors LLC’s holdings, making the stock its 21st largest holding. Inspire Advisors LLC’s holdings in Apple were worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Capital International Investors grew its holdings in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. American Century Companies Inc. grew its holdings in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Jennison Associates LLC grew its holdings in Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after buying an additional 485,873 shares in the last quarter. Swedbank AB grew its stake in Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Apple by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after purchasing an additional 2,594,138 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on AAPL shares. Barclays dropped their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Friday. Finally, Maxim Group raised their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.23.

Get Our Latest Report on AAPL

Apple Trading Down 1.3 %

Apple stock opened at $222.91 on Friday. The stock has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 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 has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $227.18 and a 200-day simple moving average of $212.03.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 6.6 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Monday, November 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is 15.22%.

About Apple

(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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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