Financial Perspectives Inc Has $13.35 Million Position in Apple Inc. $AAPL

Financial Perspectives Inc lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,042 shares of the iPhone maker’s stock after purchasing an additional 1,335 shares during the period. Apple accounts for about 4.0% of Financial Perspectives Inc’s holdings, making the stock its 6th biggest position. Financial Perspectives Inc’s holdings in Apple were worth $13,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its holdings in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares in the last quarter. Nuveen LLC bought a new position in Apple in the 1st quarter valued at $17,472,482,000. Northern Trust Corp grew its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Amundi increased its position in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Melius Research set a $345.00 price target on shares of Apple in a research report on Friday, October 31st. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research report on Thursday, September 11th. TD Cowen raised their price target on shares of Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Tigress Financial increased their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 3,752 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the sale, the insider owned 15,098 shares in the company, valued at $4,095,030.54. This represents a 19.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 228,052 shares of company stock valued at $58,604,588. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4%

Apple stock opened at $268.56 on Thursday. The firm has a 50 day simple moving average of $258.01 and a 200 day simple moving average of $228.15. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The firm has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 earnings per share. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

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.