First Personal Financial Services Increases Stock Position in Apple Inc. (NASDAQ:AAPL)
First Personal Financial Services lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 300.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,333 shares of the iPhone maker’s stock after purchasing an additional 25,753 shares during the quarter. First Personal Financial Services’ holdings in Apple were worth $3,976,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Excalibur Management Corp lifted its position in shares of Apple by 250.3% during the third quarter. Excalibur Management Corp now owns 73,407 shares of the iPhone maker’s stock worth $8,501,000 after purchasing an additional 52,449 shares in the last quarter. Veritas Investment Management LLP raised its stake in Apple by 258.6% in the 3rd quarter. Veritas Investment Management LLP now owns 19,475 shares of the iPhone maker’s stock valued at $2,252,000 after purchasing an additional 14,044 shares during the last quarter. Veritas Investment Management UK Ltd raised its stake in Apple by 255.2% in the 3rd quarter. Veritas Investment Management UK Ltd now owns 3,964 shares of the iPhone maker’s stock valued at $459,000 after purchasing an additional 2,848 shares during the last quarter. Warren Averett Asset Management LLC raised its stake in Apple by 316.0% in the 3rd quarter. Warren Averett Asset Management LLC now owns 81,755 shares of the iPhone maker’s stock valued at $8,900,000 after purchasing an additional 62,102 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. raised its stake in Apple by 72.8% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 267,884 shares of the iPhone maker’s stock valued at $31,024,000 after purchasing an additional 112,899 shares during the last quarter. 59.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Katherine L. Adams sold 17,000 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $110.42, for a total value of $1,877,140.00. Following the completion of the sale, the senior vice president now directly owns 320,784 shares of the company’s stock, valued at approximately $35,420,969.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 14,840 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $121.34, for a total value of $1,800,685.60. The disclosure for this sale can be found here. In the last three months, insiders sold 828,974 shares of company stock valued at $196,862,482. Company insiders own 0.05% of the company’s stock.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, November 3rd. The iPhone maker reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The business had revenue of $64.70 billion for the quarter, compared to analyst estimates of $63.33 billion. Apple had a return on equity of 75.15% and a net margin of 20.91%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.03 EPS. On average, equities analysts expect that Apple Inc. will post 4.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 12th. Shareholders of record on Monday, November 9th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, November 6th. Apple’s dividend payout ratio is presently 25.00%.
Several research analysts recently weighed in on AAPL shares. Cascend Securities boosted their target price on shares of Apple from $81.25 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BidaskClub raised shares of Apple from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup lifted their price target on Apple from $112.50 to $125.00 and gave the company a “buy” rating in a report on Monday, September 21st. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Loop Capital lowered their price target on Apple from $115.00 to $135.00 and set a “hold” rating for the company in a report on Monday, October 26th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Apple has a consensus rating of “Buy” and a consensus target price of $111.70.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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