Apple Inc. (NASDAQ:AAPL) is Perennial Advisors LLC’s 2nd Largest Position

Perennial Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,724 shares of the iPhone maker’s stock after selling 2,283 shares during the quarter. Apple makes up 6.0% of Perennial Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Perennial Advisors LLC’s holdings in Apple were worth $26,901,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AAPL. Foresight Capital Management Advisors Inc. grew its stake in Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after buying an additional 55 shares during the last quarter. Altus Wealth Management LLC boosted its stake in Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after purchasing an additional 55 shares in the last quarter. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Stableford Capital II LLC grew its position in Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after buying an additional 59 shares during the last quarter. Finally, Whitcomb & Hess Inc. raised its position in shares of Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after purchasing an additional 59 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $255.00 target price on shares of Apple in a research report on Tuesday, August 27th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Cfra upped their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, UBS Group boosted their price objective on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Price Performance

Shares of AAPL opened at $226.47 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The stock has a 50 day simple moving average of $222.25 and a 200 day simple moving average of $200.82. The firm has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. Sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last ninety days. Insiders own 0.06% of the company’s stock.

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.