Apple Inc. (NASDAQ:AAPL) Shares Bought by Summit Global Investments

Summit Global Investments increased its stake in Apple Inc. (NASDAQ:AAPL) by 28.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 89,915 shares of the iPhone maker’s stock after buying an additional 19,853 shares during the quarter. Apple comprises about 1.3% of Summit Global Investments’ holdings, making the stock its 13th biggest position. Summit Global Investments’ holdings in Apple were worth $18,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hall Laurie J Trustee raised its position in shares of Apple by 1.1% during the 2nd quarter. Hall Laurie J Trustee now owns 60,797 shares of the iPhone maker’s stock worth $12,805,000 after buying an additional 686 shares in the last quarter. GFG Capital LLC increased its stake in shares of Apple by 0.3% during the second quarter. GFG Capital LLC now owns 113,656 shares of the iPhone maker’s stock valued at $23,938,000 after acquiring an additional 325 shares during the period. Hobbs Group Advisors LLC bought a new stake in Apple during the second quarter worth approximately $3,417,000. BigSur Wealth Management LLC lifted its position in Apple by 2.2% in the second quarter. BigSur Wealth Management LLC now owns 52,103 shares of the iPhone maker’s stock worth $10,974,000 after purchasing an additional 1,120 shares during the period. Finally, Freedom Day Solutions LLC boosted its stake in Apple by 0.8% during the 2nd quarter. Freedom Day Solutions LLC now owns 43,317 shares of the iPhone maker’s stock valued at $9,123,000 after purchasing an additional 349 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $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 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last 90 days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $228.20 on Friday. 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 Inc. has a one year low of $164.07 and a one year high of $237.23. The business’s 50-day moving average price is $222.41 and its two-hundred day moving average price is $200.19. The company has a market capitalization of $3.50 trillion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the company earned $1.26 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cfra upped their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Tigress Financial raised their price objective 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. TD Cowen boosted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

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.