Eaton Cambridge Inc. Grows Position in Apple Inc. (NASDAQ:AAPL)

Eaton Cambridge Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 2.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,680 shares of the iPhone maker’s stock after purchasing an additional 224 shares during the quarter. Apple accounts for about 1.2% of Eaton Cambridge Inc.’s holdings, making the stock its 7th biggest position. Eaton Cambridge Inc.’s holdings in Apple were worth $2,249,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foresight Capital Management Advisors Inc. lifted its stake in shares of Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares during the last quarter. Hoese & Co LLP lifted its stake in shares of 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 during the last quarter. Stableford Capital II LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares during the last quarter. Whitcomb & Hess Inc. raised its position in Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after purchasing an additional 59 shares during the last quarter. Finally, Kwmg LLC raised its position in Apple by 0.6% during the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock worth $1,825,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AAPL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday. Barclays lowered their target price on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Loop Capital raised Apple from a “hold” rating to a “buy” rating and raised their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Sanford C. Bernstein raised their target price on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.62.

Apple Price Performance

AAPL stock opened at $222.77 on Friday. The company has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The business has a 50-day simple moving average of $223.22 and a two-hundred day simple moving average of $198.23.

Apple (NASDAQ:AAPL) last released 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 business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’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 EPS. Research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.