Coastal Bridge Advisors LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,205 shares of the iPhone maker’s stock after purchasing an additional 4,984 shares during the period. Apple accounts for approximately 2.0% of Coastal Bridge Advisors LLC’s portfolio, making the stock its 10th biggest position. Coastal Bridge Advisors LLC’s holdings in Apple were worth $9,368,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Apple by 2.3% in the third quarter. Geode Capital Management LLC now owns 259,894,947 shares of the iPhone maker’s stock worth $36,670,642,000 after buying an additional 5,732,451 shares during the last quarter. Morgan Stanley lifted its position in shares of Apple by 1.9% in the third quarter. Morgan Stanley now owns 128,279,150 shares of the iPhone maker’s stock worth $18,151,501,000 after buying an additional 2,419,441 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 76,847,971 shares of the iPhone maker’s stock worth $10,525,100,000 after buying an additional 898,803 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Apple by 2.2% in the second quarter. Parametric Portfolio Associates LLC now owns 55,386,793 shares of the iPhone maker’s stock worth $7,585,775,000 after buying an additional 1,175,764 shares during the last quarter. Finally, Amundi acquired a new stake in shares of Apple in the second quarter worth about $5,528,240,000. 56.49% of the stock is owned by hedge funds and other institutional investors.
In other Apple news, Director Arthur D. Levinson sold 1,986 shares of the company’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $173.29, for a total transaction of $344,153.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Thursday, February 3rd. The stock was sold at an average price of $174.78, for a total value of $4,369,500.00. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
NASDAQ AAPL opened at $168.64 on Monday. The firm has a market cap of $2.75 trillion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. Apple Inc. has a one year low of $116.21 and a one year high of $182.94. The stock’s 50 day simple moving average is $172.67 and its 200 day simple moving average is $157.76. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.04 and a quick ratio of 1.00.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 27th. The iPhone maker reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.21. The business had revenue of $123.95 billion for the quarter, compared to analyst estimates of $118.53 billion. Apple had a return on equity of 149.81% and a net margin of 26.58%. Apple’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 EPS. As a group, equities analysts expect that Apple Inc. will post 6.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 10th. Investors of record on Monday, February 7th were given a dividend of $0.22 per share. The ex-dividend date was Friday, February 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio (DPR) is presently 14.57%.
A number of analysts have weighed in on the company. UBS Group boosted their price target on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 28th. Wells Fargo & Company boosted their price objective on Apple from $165.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, January 21st. Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating and set a $171.00 price objective for the company. in a research report on Monday, November 1st. Raymond James boosted their price objective on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, January 28th. Finally, Piper Sandler boosted their price objective on Apple from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Buy” and a consensus price target of $189.10.
Apple Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Want More Great Investing Ideas?
