Beaton Management Co. Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,140 shares of the iPhone maker’s stock after acquiring an additional 1,979 shares during the quarter. Apple accounts for 3.6% of Beaton Management Co. Inc.’s portfolio, making the stock its 3rd biggest holding. Beaton Management Co. Inc.’s holdings in Apple were worth $5,503,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. State Street Corp raised its position in shares of Apple by 0.5% in the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock worth $112,288,818,000 after acquiring an additional 2,616,084 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock worth $56,396,763,000 after acquiring an additional 6,367,053 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Apple by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after acquiring an additional 7,736,013 shares in the last quarter. 58.51% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Barclays reduced their price target on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research report on Friday, February 2nd. Piper Sandler reduced their price target on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their price target on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 price target on shares of Apple in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. decreased their price target on Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.27.
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 5,513 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total value of $1,058,496.00. Following the transaction, the insider now owns 29,174 shares in the company, valued at $5,601,408. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Apple Stock Down 1.0 %
Shares of AAPL opened at $182.52 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12 month low of $143.90 and a 12 month high of $199.62. The stock’s 50 day moving average is $188.29 and its two-hundred day moving average is $183.67. The firm has a market cap of $2.82 trillion, a P/E ratio of 28.43, a PEG ratio of 2.22 and a beta of 1.31.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same period last year, the company earned $1.88 earnings per share. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.56 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is currently 14.95%.
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.
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