Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by Connors Investor Services Inc.

Connors Investor Services Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 52.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 255,975 shares of the iPhone maker’s stock after purchasing an additional 88,232 shares during the period. Apple accounts for about 5.6% of Connors Investor Services Inc.’s portfolio, making the stock its largest position. Connors Investor Services Inc.’s holdings in Apple were worth $53,913,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norway Savings Bank lifted its stake in shares of Apple by 1.8% in the 1st quarter. Norway Savings Bank now owns 47,130 shares of the iPhone maker’s stock valued at $8,082,000 after purchasing an additional 815 shares during the period. New England Research & Management Inc. lifted its stake in shares of Apple by 6.3% in the 1st quarter. New England Research & Management Inc. now owns 32,702 shares of the iPhone maker’s stock valued at $5,608,000 after purchasing an additional 1,941 shares during the period. Astoria Portfolio Advisors LLC. lifted its stake in shares of Apple by 7.7% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 29,302 shares of the iPhone maker’s stock valued at $5,060,000 after purchasing an additional 2,088 shares during the period. Fidelity D & D Bancorp Inc. lifted its stake in shares of Apple by 9.6% in the 1st quarter. Fidelity D & D Bancorp Inc. now owns 10,067 shares of the iPhone maker’s stock valued at $1,726,000 after purchasing an additional 884 shares during the period. Finally, Total Investment Management Inc. lifted its stake in shares of Apple by 4.5% in the 1st quarter. Total Investment Management Inc. now owns 31,804 shares of the iPhone maker’s stock valued at $5,454,000 after purchasing an additional 1,363 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Trading Down 0.4 %

Shares of NASDAQ:AAPL opened at $222.01 on Tuesday. The business’s 50 day simple moving average is $227.07 and its 200 day simple moving average is $213.03. The company has a market capitalization of $3.38 trillion, a P/E ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 145.09% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Insider Activity

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 value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,924 shares of company stock valued at $94,142,399 in the last ninety days. 0.06% of the stock is owned by company insiders.

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.