Apple Inc. (NASDAQ:AAPL) Stake Increased by Primecap Management Co. CA

Primecap Management Co. CA raised its position in Apple Inc. (NASDAQ:AAPL) by 19.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,250,800 shares of the iPhone maker’s stock after purchasing an additional 360,000 shares during the quarter. Primecap Management Co. CA’s holdings in Apple were worth $474,063,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norway Savings Bank lifted its position in Apple by 1.8% during the 1st quarter. Norway Savings Bank now owns 47,130 shares of the iPhone maker’s stock worth $8,082,000 after acquiring an additional 815 shares during the last quarter. New England Research & Management Inc. boosted its stake in Apple by 6.3% during the 1st quarter. New England Research & Management Inc. now owns 32,702 shares of the iPhone maker’s stock valued at $5,608,000 after purchasing an additional 1,941 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in Apple by 7.7% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 29,302 shares of the iPhone maker’s stock valued at $5,060,000 after buying an additional 2,088 shares during the last quarter. Fidelity D & D Bancorp Inc. increased its position in Apple by 9.6% in the 1st quarter. Fidelity D & D Bancorp Inc. now owns 10,067 shares of the iPhone maker’s stock worth $1,726,000 after buying an additional 884 shares during the period. Finally, Total Investment Management Inc. boosted its position in shares of Apple by 4.5% in the first quarter. Total Investment Management Inc. now owns 31,804 shares of the iPhone maker’s stock valued at $5,454,000 after acquiring an additional 1,363 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $222.01 on Tuesday. The company’s 50 day moving average price is $227.07 and its two-hundred day moving average price is $213.03. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a market capitalization of $3.38 trillion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 145.09%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. On average, analysts expect that Apple Inc. will post 7.48 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,924 shares of company stock worth $94,142,399 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AAPL shares. Cfra raised their price target 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. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Barclays dropped their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday. Finally, Citigroup boosted their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.51.

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.