Empower Advisory Group LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The company now owns 1,942,735 shares of the iPhone maker’s stock after acquiring an additional 20,478 shares during the quarter. Apple makes up about 1.5% of his Empower Advisory Group LLC portfolio, making the stock his 16th largest holding. His Apple holdings in Empower Advisory Group LLC were worth $332,616,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Atlantic Private Wealth LLC bought a new stake in Apple stock during the 1st quarter valued at approximately $30,000. Cheyne Capital Management UK LLP increased his stake in Apple by 200.0% in 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the period. West Tower Group LLC purchased a new stake in Apple during the 2nd quarter valued at approximately $64,000. HBC Financial Services PLLC increased its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Finally, PayPay Securities Co., Ltd. increased its position in shares of Apple by 70.2% during the 3rd quarter. PayPay Securities Co., Ltd. now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares in the last quarter. Currently, 58.51% of the stock is owned by hedge funds and other institutional investors.
Analyst sets new price target
A number of research analysts have been commenting on this stock recently. Jefferies Financial Group lowered their target price on shares of Apple from $220.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Redburn Partners downgraded Apple’s stock rating to “neutral” and set a price target of $200. said in an investigation report on Wednesday, January 10. Mones Crespi & Hurd raised their target price on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley increased their target price on shares of Apple from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 8th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $189.00 target price on shares of Apple in a research report on Wednesday, January 31st. 1 equity research analyst has rated the stock with a sell rating, 11 have rated it a hold, 21 have rated it a buy, and 1 has rated the company a strong buy. Apple currently has an average rating of “Moderate Buy” and an average target price of $205.27, according to MarketBeat data.
Read the latest stock analysis for Apple
Apple trading down 0.7%
NASDAQ:AAPL stock opened Tuesday at $181.16. The company has a market capitalization of $2.8 trillion, a P/E ratio of 28.22x, a P/E ratio of 2.20x, and a beta of 1.31x. The company’s 50-day moving average price is $187.99 and its 200-day moving average price is $183.73. Apple has a 52-week low of $143.90 and a 52-week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07, and a debt-to-equity ratio of 1.28.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. The company had revenue of $119.6 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. Apple’s quarterly revenue increased 2.1% year over year. The company’s EPS for the same period last year was $1.88. Sell-side analysts expect Apple to post earnings of $6.56 per share for the current fiscal year.
Apple announces dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. The investor of record on Monday, February 12th was awarded a dividend of $0.24. The ex-dividend date for this dividend was Friday, February 9th. This equates to an annualized dividend of $0.96 and a yield of 0.53%. Apple’s dividend payout ratio is currently 14.95%.
Apple Insider Activities
In other Apple news, insider Chris Kondo sold 5,513 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the transaction, the insider now owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The transaction was disclosed in his SEC filing, which can be accessed through this link. Insiders currently own 0.06% of the stock.
About Apple
(Free report)
Apple Inc designs, manufactures, and sells smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers a line of smartphones, the iPhone. Mac, personal computer product group. iPad, a series of multipurpose tablets. Wearables, home, and accessories consisting of AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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