Capital Investment Advisors LLC Has $88.85 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Capital Investment Advisors LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 421,863 shares of the iPhone maker’s stock after buying an additional 22,630 shares during the period. Apple accounts for approximately 2.0% of Capital Investment Advisors LLC’s portfolio, making the stock its 5th biggest holding. Capital Investment Advisors LLC’s holdings in Apple were worth $88,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Norges Bank bought a new stake in Apple during the 4th quarter valued at about $33,912,466,000. Wellington Management Group LLP increased its stake in Apple by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after purchasing an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after buying an additional 1,067,587 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Apple by 7.1% in 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 in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $229.00 on Monday. The stock has a market cap of $3.51 trillion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm has a fifty day moving average price of $221.88 and a 200-day moving average price of $195.93. 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 quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business 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 revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. Equities analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AAPL shares. Rosenblatt Securities raised their price target on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, August 27th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have given 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 a consensus target price of $237.30.

Apple 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.