11,203 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Brightwater Advisory LLC

Brightwater Advisory LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,203 shares of the iPhone maker’s stock, valued at approximately $2,360,000. Apple makes up about 1.7% of Brightwater Advisory LLC’s investment portfolio, making the stock its 21st largest holding.

Other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new stake in Apple in the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC lifted its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Apple by 158.3% in 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 acquiring an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Apple during the second quarter worth $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,040 shares of company stock valued at $91,062,512 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 1.4 %

NASDAQ AAPL opened at $225.00 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.20 and a beta of 1.24. The firm has a 50 day simple moving average of $227.04 and a 200-day simple moving average of $216.61. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Finally, Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.