Portside Wealth Group LLC Buys Shares of 1,838,235 Apple Inc. (NASDAQ:AAPL)

Portside Wealth Group LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, HoldingsChannel reports. The firm bought 1,838,235 shares of the iPhone maker’s stock, valued at approximately $356,559,000. Apple accounts for about 1.5% of Portside Wealth Group LLC’s investment portfolio, making the stock its 11th largest position.

Other hedge funds have also bought and sold shares of the company. Regency Capital Management Inc. DE purchased a new position in shares of Apple during the second quarter worth approximately $207,000. Perennial Advisors LLC raised its stake in shares of Apple by 7.8% during the second quarter. Perennial Advisors LLC now owns 131,211 shares of the iPhone maker’s stock worth $25,451,000 after acquiring an additional 9,467 shares in the last quarter. Financial Advisors LLC raised its stake in shares of Apple by 1.5% during the second quarter. Financial Advisors LLC now owns 25,915 shares of the iPhone maker’s stock worth $5,027,000 after acquiring an additional 377 shares in the last quarter. RFP Financial Group LLC raised its stake in shares of Apple by 1,005.3% during the second quarter. RFP Financial Group LLC now owns 101,156 shares of the iPhone maker’s stock worth $19,603,000 after acquiring an additional 92,004 shares in the last quarter. Finally, Motive Wealth Advisors raised its stake in shares of Apple by 2.3% during the second quarter. Motive Wealth Advisors now owns 11,131 shares of the iPhone maker’s stock worth $2,159,000 after acquiring an additional 248 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at approximately $55,365,688.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the transaction, the senior vice president now directly owns 293,266 shares of the company’s stock, valued at $55,365,688.14. The disclosure for this sale can be found here. Insiders sold 567,839 shares of company stock worth $100,675,794 in the last three months. 0.06% of the stock is owned by company insiders.

Apple Trading Up 0.9 %

Apple stock opened at $191.45 on Tuesday. The firm has a 50 day moving average of $177.15 and a 200 day moving average of $181.03. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. As a group, research analysts predict that Apple Inc. will post 6.56 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a $0.24 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.96 annualized dividend and a yield of 0.50%. Apple’s payout ratio is 15.69%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a report on Thursday, September 21st. Tigress Financial boosted their target price on shares of Apple from $225.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday, November 16th. TD Cowen boosted their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. StockNews.com began coverage on shares of Apple in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group dropped their target price on shares of Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.25.

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.