Argyle Capital Management Inc. grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,745 shares of the iPhone maker’s stock after purchasing an additional 209 shares during the quarter. Argyle Capital Management Inc.’s holdings in Apple were worth $1,106,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. High Net Worth Advisory Group LLC lifted its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in shares of Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp grew its stake in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. Sterling Investment Counsel LLC lifted its position in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after buying an additional 95,235 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Trading Down 1.3 %
AAPL opened at $255.59 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a fifty day moving average price of $237.41 and a 200-day moving average price of $227.89.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.
Insider Transactions at Apple
In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 508,170 shares of company stock valued at $117,004,745. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.
Get Our Latest Analysis on AAPL
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.
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