Envestnet Asset Management Inc. Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

Envestnet Asset Management Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 13.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,564,265 shares of the iPhone maker’s stock after buying an additional 1,472,194 shares during the quarter. Apple makes up about 0.9% of Envestnet Asset Management Inc.’s holdings, making the stock its 16th largest position. Envestnet Asset Management Inc. owned 0.08% of Apple worth $2,646,285,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AAPL. Capital International Investors boosted its stake in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the period. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares during the period. Jennison Associates LLC boosted its stake in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after buying an additional 485,873 shares during the period. Swedbank AB boosted its stake in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after purchasing an additional 2,594,138 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Cfra raised their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.23.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ AAPL opened at $222.91 on Friday. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The firm’s fifty day moving average price is $227.18 and its two-hundred day moving average price is $212.03. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. 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 released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.49 by $0.15. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. During the same period in the prior year, the company posted $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 6.6 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.22%.

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.