PSI Advisors LLC Acquires 1,082 Shares of Apple Inc. (NASDAQ:AAPL)

PSI Advisors LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,322 shares of the iPhone maker’s stock after buying an additional 1,082 shares during the quarter. Apple makes up 2.4% of PSI Advisors LLC’s holdings, making the stock its 10th biggest holding. PSI Advisors LLC’s holdings in Apple were worth $7,439,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AAPL. Norges Bank acquired a new stake in Apple in the fourth quarter valued at about $33,912,466,000. Vanguard Group Inc. boosted its stake in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Swedbank AB acquired a new stake in shares of Apple during the first quarter valued at about $3,026,492,000. Global Assets Advisory LLC boosted its stake in shares of Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AAPL shares. Barclays cut their price target on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Evercore ISI restated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research report on Monday, September 16th. KeyCorp restated a “hold” rating and set a $247.61 price objective on shares of Apple in a research report on Wednesday, August 28th. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and raised their price objective for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $239.17.

Apple Stock Up 0.4 %

Shares of NASDAQ:AAPL opened at $227.37 on Wednesday. The business’s 50 day moving average is $222.10 and its 200 day moving average is $201.22. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock valued at $23,723,887. 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.