Apple Inc. (NASDAQ:AAPL) Holdings Boosted by Umpqua Bank

Umpqua Bank boosted its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,068 shares of the iPhone maker’s stock after purchasing an additional 1,773 shares during the period. Apple comprises 5.2% of Umpqua Bank’s investment portfolio, making the stock its 2nd largest position. Umpqua Bank’s holdings in Apple were worth $13,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC grew its stake in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its position 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 in the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in shares of Apple in the second quarter worth $208,000. 60.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America reaffirmed a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $261.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Citigroup lifted their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.27.

Apple Stock Down 2.2 %

Shares of AAPL opened at $230.76 on Thursday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a fifty day moving average price of $226.64 and a 200-day moving average price of $209.48. The firm has a market capitalization of $3.54 trillion, a P/E ratio of 35.89, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly 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 firm had revenue of $85.78 billion during 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Equities research analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

Apple Company Profile

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.