Chartist Inc. CA Buys New Position in Apple Inc. (NASDAQ:AAPL)

Chartist Inc. CA bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,076 shares of the iPhone maker’s stock, valued at approximately $227,000. Apple accounts for about 0.2% of Chartist Inc. CA’s investment portfolio, making the stock its 25th largest position.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Swedbank AB acquired a new position in shares of Apple during the 1st quarter valued at about $3,026,492,000. Global Assets Advisory LLC increased its stake in shares of Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after acquiring an additional 5,405,542 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $230.57 on Friday. The stock has a market cap of $3.54 trillion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $226.64 and a 200-day moving average of $209.48. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Loop Capital boosted their target price on Apple to $300.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Evercore ISI reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.27.

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.