EFG Asset Management Americas Corp. Purchases 23,588 Shares of Apple Inc. (NASDAQ:AAPL)

EFG Asset Management Americas Corp. raised its stake in Apple Inc. (NASDAQ:AAPL) by 44.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 76,494 shares of the iPhone maker’s stock after purchasing an additional 23,588 shares during the period. Apple accounts for approximately 3.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 5th biggest holding. EFG Asset Management Americas Corp.’s holdings in Apple were worth $16,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AAPL. Bellwether Advisors LLC lifted its holdings in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $876,000. WT Asset Management Ltd bought a new stake in shares of Apple in the 2nd quarter worth approximately $80,057,000. Councilmark Asset Management LLC acquired a new position in Apple during the 1st quarter valued at approximately $11,776,000. Finally, TD Asset Management Inc grew its stake in Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after buying an additional 1,557,848 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $230.76 on Thursday. The firm has a market cap of $3.54 trillion, a PE ratio of 35.89, a PEG ratio of 2.40 and a beta of 1.24. The firm’s 50 day moving average price is $226.64 and its 200 day moving average price is $209.48. 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 twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. 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%.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Thursday, September 19th. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Melius Research restated a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Citigroup boosted their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley restated 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 issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.27.

Apple Company 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.