SlateStone Wealth LLC Purchases Shares of 191,355 Apple Inc. (NASDAQ:AAPL)
SlateStone Wealth LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 191,355 shares of the iPhone maker’s stock, valued at approximately $37,117,000. Apple accounts for 7.0% of SlateStone Wealth LLC’s holdings, making the stock its 2nd biggest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Moneta Group Investment Advisors LLC grew its holdings in Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares during the period. Norges Bank purchased a new stake in Apple in the 4th quarter valued at about $21,746,940,000. Morgan Stanley grew its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after buying an additional 25,926,552 shares during the period. Berkshire Hathaway Inc grew its holdings in Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after buying an additional 20,424,207 shares during the period. Finally, Barclays PLC grew its holdings in Apple by 60.0% in the 2nd quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock valued at $9,103,464,000 after buying an additional 17,604,799 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Insider Buying and Selling
In related news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Chris Kondo sold 5,513 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the transaction, the insider now directly owns 29,174 shares in the company, valued at approximately $5,601,408. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 573,352 shares of company stock worth $101,734,290 in the last three months. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on AAPL shares. Evercore ISI reiterated an “outperform” rating and set a $210.00 target price on shares of Apple in a report on Thursday, September 28th. Sanford C. Bernstein reiterated a “market perform” rating and set a $195.00 target price on shares of Apple in a report on Monday, October 9th. KeyCorp reiterated a “sector weight” rating on shares of Apple in a report on Monday, October 30th. The Goldman Sachs Group decreased their target price on Apple from $222.00 to $216.00 and set a “buy” rating for the company in a report on Wednesday, September 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Apple in a report on Tuesday, October 31st. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.25.
View Our Latest Report on AAPL
Apple Stock Performance
AAPL stock opened at $191.24 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. The firm has a market cap of $2.97 trillion, a P/E ratio of 31.25, a P/E/G ratio of 2.64 and a beta of 1.31. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The stock’s 50 day simple moving average is $179.78 and its 200 day simple moving average is $182.15.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.56 EPS for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a yield of 0.50%. Apple’s payout ratio is currently 15.69%.
Apple Company Profile (Free Report)
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.
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Original: MarketBeat News Feed: SlateStone Wealth LLC Purchases Shares of 191,355 Apple Inc. (NASDAQ:AAPL)