Apple Inc. (NASDAQ:AAPL) Shares Acquired by Allegheny Financial Group LTD

Allegheny Financial Group LTD boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 10.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 80,060 shares of the iPhone maker’s stock after buying an additional 7,799 shares during the quarter. Apple accounts for 4.8% of Allegheny Financial Group LTD’s holdings, making the stock its 5th largest position. Allegheny Financial Group LTD’s holdings in Apple were worth $16,862,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Capital International Investors increased its position 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 acquiring an additional 2,474,887 shares in the last quarter. Jennison Associates LLC grew its position in Apple by 1.7% during the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Swedbank AB raised its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after purchasing an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Apple by 2.5% in the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after buying an additional 415,186 shares during the period. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Thursday, September 19th. Robert W. Baird boosted their target price on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, Melius Research reissued a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Insider Buying and Selling

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 value of $20,644,000.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $232.15 on Friday. The company’s fifty day moving average is $225.41 and its two-hundred day moving average is $207.39. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.40 and a beta of 1.24.

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 analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for 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 firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 0.43%. Apple’s payout ratio is 15.55%.

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.