Augustine Asset Management Inc. Has $28.55 Million Stake in Apple Inc. (NASDAQ:AAPL)

Augustine Asset Management Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the second quarter, Holdings Channel.com reports. The firm owned 135,527 shares of the iPhone maker’s stock after buying an additional 398 shares during the period. Apple comprises about 11.0% of Augustine Asset Management Inc.’s holdings, making the stock its 2nd biggest position. Augustine Asset Management Inc.’s holdings in Apple were worth $28,545,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Access Investment Management LLC bought a new stake in Apple in the first quarter worth about $140,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Benchmark Wealth Management LLC bought a new stake in shares of Apple during the 2nd quarter worth approximately $208,000. Sequent Asset Management LLC purchased a new position in Apple during the 2nd quarter valued at $214,000. Finally, Financial Life Advisors bought a new position in Apple in the 4th quarter valued at $212,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

AAPL opened at $233.85 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business has a 50 day moving average price of $224.59 and a two-hundred day moving average price of $207.04. 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 released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is 15.55%.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated 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 owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AAPL. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Raymond James lifted their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Maxim Group reiterated a “hold” rating and issued a $203.00 price target on shares of Apple in a report on Tuesday, September 10th. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 target price on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.27.

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.