Soundwatch Capital LLC Has $1.22 Million Position in Apple Inc. (NASDAQ:AAPL)

Soundwatch Capital LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 169.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,810 shares of the iPhone maker’s stock after buying an additional 3,651 shares during the quarter. Apple comprises 6.7% of Soundwatch Capital LLC’s portfolio, making the stock its 3rd biggest holding. Soundwatch Capital LLC’s holdings in Apple were worth $1,224,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bellwether Advisors LLC increased its position in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC acquired a new stake in Apple in the second quarter worth about $876,000. WT Asset Management Ltd acquired a new stake in Apple in the second quarter worth about $80,057,000. TD Asset Management Inc increased its position in Apple by 10.3% in the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after purchasing an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC acquired a new stake in Apple in the first quarter worth about $11,776,000. 60.41% of the stock is owned by institutional investors.

Apple Trading Down 0.3 %

Shares of Apple stock opened at $222.72 on Thursday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The stock has a market cap of $3.39 trillion, a P/E ratio of 36.63, a P/E/G ratio of 2.39 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business’s 50 day moving average is $226.91 and its 200-day moving average is $213.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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. In the last quarter, insiders have sold 417,924 shares of company stock worth $94,142,399. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several analyst reports. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Finally, Melius Research restated a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average 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.