Cohen Investment Advisors LLC Acquires 239 Shares of Apple Inc. (NASDAQ:AAPL)

Cohen Investment Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, Holdings Channel reports. The institutional investor owned 46,574 shares of the iPhone maker’s stock after acquiring an additional 239 shares during the quarter. Apple accounts for 6.8% of Cohen Investment Advisors LLC’s holdings, making the stock its 2nd largest holding. Cohen Investment Advisors LLC’s holdings in Apple were worth $9,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Yeomans Consulting Group Inc. acquired a new stake in Apple during the 4th quarter worth $1,713,000. Raleigh Capital Management Inc. grew its stake in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA acquired a new stake in Apple in the 4th quarter valued at about $38,406,000. Barden Capital Management Inc. lifted its stake in Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $4,782,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.3 %

Shares of NASDAQ:AAPL opened at $226.78 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The firm’s 50 day moving average price is $222.56 and its 200 day moving average price is $203.34.

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

Apple Announces Dividend

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

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on 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 sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 over the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AAPL. Wedbush reiterated an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Citigroup reaffirmed a “buy” rating and issued a $255.00 target price on shares of Apple in a research note on Wednesday. TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Thursday, September 19th. Finally, Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $300.00 in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

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.