Cohen Capital Management Inc. Acquires 1,476 Shares of Apple Inc. (NASDAQ:AAPL)

Cohen Capital Management Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,005 shares of the iPhone maker’s stock after purchasing an additional 1,476 shares during the period. Cohen Capital Management Inc.’s holdings in Apple were worth $3,030,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. High Net Worth Advisory Group LLC raised its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Granite Investment Partners LLC raised its stake in shares of 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 purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $242.21 on Wednesday. The company has a market cap of $3.66 trillion, a price-to-earnings ratio of 39.84, a PEG ratio of 2.41 and a beta of 1.20. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The stock’s 50 day simple moving average is $239.32 and its two-hundred day simple moving average is $229.57. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. 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 previous year, the business posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. Barclays lowered their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Friday, January 3rd. Wedbush increased their price target on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, December 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.64.

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.