Addenda Capital Inc. Has $37.70 Million Position in Apple Inc. (NASDAQ:AAPL)

Addenda Capital Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,546 shares of the iPhone maker’s stock after acquiring an additional 6,485 shares during the quarter. Apple comprises 1.7% of Addenda Capital Inc.’s portfolio, making the stock its 17th biggest holding. Addenda Capital Inc.’s holdings in Apple were worth $37,700,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AAPL. High Net Worth Advisory Group LLC lifted its position in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the period. Amara Financial LLC. bought a new stake in shares of Apple during the 3rd quarter valued at $288,000. Truist Financial Corp lifted its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. Sterling Investment Counsel LLC lifted its position in shares of Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners lifted its position in shares of Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after acquiring an additional 28,799 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 1.6 %

NASDAQ AAPL opened at $239.07 on Monday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50 day simple moving average of $237.56 and a 200 day simple moving average of $234.14. The stock has a market capitalization of $3.59 trillion, a P/E ratio of 37.95, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AAPL shares. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Argus upgraded Apple to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Citigroup upped their price objective on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.88.

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.