Slow Capital Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,265 shares of the iPhone maker’s stock after selling 1,820 shares during the period. Apple comprises approximately 3.3% of Slow Capital Inc.’s holdings, making the stock its 2nd largest holding. Slow Capital Inc.’s holdings in Apple were worth $7,969,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AAPL. Monument Capital Management grew its stake in shares of Apple by 2.2% during the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after acquiring an additional 53 shares during the last quarter. Rockland Trust Co. grew its stake in shares of Apple by 4.8% during the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after acquiring an additional 948 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Apple by 0.4% during the second quarter. Asset Dedication LLC now owns 19,862 shares of the iPhone maker’s stock worth $3,933,000 after acquiring an additional 79 shares during the last quarter. HWG Holdings LP grew its stake in shares of Apple by 45.5% during the second quarter. HWG Holdings LP now owns 18,403 shares of the iPhone maker’s stock worth $3,642,000 after acquiring an additional 5,752 shares during the last quarter. Finally, Pecaut & CO. grew its stake in shares of Apple by 3.0% during the first quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock worth $11,377,000 after acquiring an additional 1,725 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.
Shares of NASDAQ:AAPL opened at $203.92 on Wednesday. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a market capitalization of $915.77 billion, a PE ratio of 17.14, a PEG ratio of 1.69 and a beta of 1.25. The business has a 50 day moving average of $205.07 and a two-hundred day moving average of $193.47. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, August 9th. Apple’s payout ratio is presently 25.86%.
Apple declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 30th that allows the company to buyback $75.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. set a $243.00 price target on Apple and gave the stock a “buy” rating in a research note on Monday. DA Davidson boosted their price target on Apple to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BTIG Research boosted their price target on Apple to $234.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. HSBC set a $174.00 target price on Apple and gave the stock a “sell” rating in a report on Monday, May 20th. Finally, Daiwa Capital Markets set a $223.00 target price on Apple and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Apple presently has an average rating of “Hold” and a consensus target price of $217.25.
In other news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. Insiders sold 304,536 shares of company stock valued at $62,894,611 over the last three months. 0.05% of the stock is currently owned by corporate insiders.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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