Beacon Investment Advisory Services Inc. Increases Position in Apple Inc. (AAPL)
Beacon Investment Advisory Services Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,283 shares of the iPhone maker’s stock after purchasing an additional 291 shares during the period. Apple comprises approximately 2.2% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 7th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Apple were worth $21,895,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Summit Trail Advisors LLC grew its holdings in shares of Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after acquiring an additional 20,067,124 shares during the period. Cornerstone Wealth Management LLC grew its holdings in shares of Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after acquiring an additional 16,668,866 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Apple during the 1st quarter worth approximately $830,026,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Apple by 6.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after acquiring an additional 1,030,981 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Apple by 4.3% during the 1st quarter. Fisher Asset Management LLC now owns 11,692,755 shares of the iPhone maker’s stock worth $1,961,810,000 after acquiring an additional 485,781 shares during the period. Institutional investors own 57.14% of the company’s stock.
A number of research firms have weighed in on AAPL. BidaskClub downgraded Apple from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Morgan Stanley reiterated a “buy” rating and set a $247.00 target price on shares of Apple in a report on Wednesday, September 26th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $272.00 target price on shares of Apple in a report on Wednesday, October 10th. Royal Bank of Canada reiterated a “buy” rating and set a $240.00 target price on shares of Apple in a report on Tuesday, September 11th. Finally, Wells Fargo & Co set a $210.00 target price on Apple and gave the stock a “neutral” rating in a report on Wednesday, September 5th. Four investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Apple has a consensus rating of “Hold” and a consensus target price of $220.55.
Apple stock opened at $176.69 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $877.75 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.33 and a beta of 1.20. Apple Inc. has a twelve month low of $150.24 and a twelve month high of $233.47.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. The business had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 EPS. On average, analysts expect that Apple Inc. will post 13.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were given a $0.73 dividend. The ex-dividend date was Thursday, November 8th. This represents a $2.92 annualized dividend and a yield of 1.65%. Apple’s dividend payout ratio (DPR) is presently 24.52%.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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