Mercer Global Advisors Inc. ADV boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,454,880 shares of the iPhone maker’s stock after acquiring an additional 164,698 shares during the quarter. Apple accounts for approximately 2.6% of Mercer Global Advisors Inc. ADV’s portfolio, making the stock its 5th largest position. Mercer Global Advisors Inc. ADV’s holdings in Apple were worth $336,220,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Milestone Resources Group Ltd boosted its stake in shares of Apple by 57.7% in the second quarter. Milestone Resources Group Ltd now owns 216 shares of the iPhone maker’s stock valued at $30,000 after buying an additional 79 shares during the period. Groesbeck Investment Management Corp NJ lifted its stake in Apple by 0.6% during the first quarter. Groesbeck Investment Management Corp NJ now owns 13,904 shares of the iPhone maker’s stock worth $1,698,000 after purchasing an additional 80 shares during the last quarter. Prentiss Smith & Co. Inc. lifted its stake in Apple by 4.7% during the first quarter. Prentiss Smith & Co. Inc. now owns 1,800 shares of the iPhone maker’s stock worth $220,000 after purchasing an additional 80 shares during the last quarter. Salzhauer Michael lifted its stake in Apple by 2.6% during the second quarter. Salzhauer Michael now owns 3,120 shares of the iPhone maker’s stock worth $427,000 after purchasing an additional 80 shares during the last quarter. Finally, Smart Money Group LLC lifted its stake in Apple by 2.6% during the second quarter. Smart Money Group LLC now owns 3,170 shares of the iPhone maker’s stock worth $421,000 after purchasing an additional 81 shares during the last quarter. 56.38% of the stock is currently owned by hedge funds and other institutional investors.
AAPL has been the subject of several recent analyst reports. The Goldman Sachs Group set a $140.00 target price on Apple in a research note on Tuesday, September 14th. Piper Sandler upped their target price on Apple from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. New Street Research cut Apple from a “neutral” rating to a “sell” rating and set a $90.00 target price for the company. in a research note on Friday, May 28th. Oppenheimer upgraded shares of Apple to an “outperform” rating and set a $165.00 price target for the company in a report on Wednesday, September 15th. Finally, Credit Suisse Group set a $150.00 price target on shares of Apple in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $162.79.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The firm had revenue of $81.40 billion during the quarter, compared to the consensus estimate of $73.48 billion. During the same period last year, the business posted $0.64 EPS. The business’s revenue was up 36.4% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 5.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is currently 26.83%.
In other news, SVP Deirdre O’brien sold 14,877 shares of the stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $145.99, for a total transaction of $2,171,893.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 17,000 shares of the stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $145.89, for a total transaction of $2,480,130.00. Following the transaction, the senior vice president now directly owns 324,164 shares in the company, valued at approximately $47,292,285.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,418,317 shares of company stock valued at $359,229,278. Company insiders own 0.06% of the company’s stock.
Apple Company Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety 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: S&P/ASX 200 Index
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