Apple Inc. (NASDAQ:AAPL) is Capital Investment Counsel Inc’s Largest Position

Capital Investment Counsel Inc increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 590,475 shares of the iPhone maker’s stock after acquiring an additional 96,698 shares during the quarter. Apple makes up about 18.7% of Capital Investment Counsel Inc’s holdings, making the stock its largest position. Capital Investment Counsel Inc’s holdings in Apple were worth $124,366,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple during the 1st quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. bought a new position in Apple during the fourth quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. grew its holdings in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Clarity Asset Management Inc. purchased a new stake in Apple in the fourth quarter worth $85,000. Finally, Clear Street Markets LLC raised its stake in shares of Apple by 100.6% in the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 83,965 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Sanford C. Bernstein lifted their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Tigress Financial boosted their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Stock Down 0.3 %

AAPL opened at $228.20 on Friday. The business’s fifty day simple moving average is $222.41 and its 200 day simple moving average is $200.19. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.50 trillion, a PE ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.26 EPS. As a group, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In other news, insider Chris Kondo sold 8,706 shares of the firm’s 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Insiders own 0.06% of the company’s stock.

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.