Asset Dedication LLC Purchases 5,466 Shares of Apple Inc. (NASDAQ:AAPL)

Asset Dedication LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 114,395 shares of the iPhone maker’s stock after acquiring an additional 5,466 shares during the quarter. Apple comprises about 1.7% of Asset Dedication LLC’s holdings, making the stock its 12th largest position. Asset Dedication LLC’s holdings in Apple were worth $24,094,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AAPL. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new position in shares of Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP boosted its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in Apple during the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple in the second quarter valued at $208,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 2.2 %

NASDAQ AAPL opened at $230.76 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market cap of $3.54 trillion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The stock has a 50 day simple moving average of $226.64 and a two-hundred day simple moving average of $209.48.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AAPL shares. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Tigress Financial raised their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.27.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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.