Apple Inc. (NASDAQ:AAPL) Stock Position Increased by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 488,030 shares of the iPhone maker’s stock after buying an additional 3,621 shares during the quarter. Apple accounts for about 3.3% of Dynamic Advisor Solutions LLC’s portfolio, making the stock its largest holding. Dynamic Advisor Solutions LLC’s holdings in Apple were worth $109,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Granite Investment Partners LLC grew its position in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp lifted its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Bellwether Advisors LLC lifted its stake in Apple by 387.3% during 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 in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Apple by 34.9% during the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after purchasing an additional 51,842 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AAPL shares. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays cut their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Two investment 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.6 %

Shares of NASDAQ:AAPL opened at $229.87 on Monday. The firm has a fifty day moving average of $227.73 and a two-hundred day moving average of $218.30. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.24 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 quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its earnings results 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 during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. On average, equities analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.