Apple Inc. $AAPL Shares Acquired by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 13.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,614 shares of the iPhone maker’s stock after acquiring an additional 2,633 shares during the quarter. Apple comprises 2.0% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 7th biggest position. Raleigh Capital Management Inc.’s holdings in Apple were worth $5,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Vanguard Group Inc. lifted its holdings in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. State Street Corp increased its position in Apple by 1.1% during the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after buying an additional 6,555,392 shares during the period. Geode Capital Management LLC increased its position in Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after buying an additional 1,866,103 shares during the period. Morgan Stanley lifted its holdings in shares of Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after buying an additional 1,379,651 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth $52,266,468,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $333.74 on Friday. The business has a fifty day simple moving average of $303.61 and a 200 day simple moving average of $277.09. The company has a market cap of $4.90 trillion, a P/E ratio of 40.36, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. On average, sell-side analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s payout ratio is 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

Insider Activity

In other news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, June 22nd. Morgan Stanley reissued an “overweight” rating on shares of Apple in a report on Friday, June 26th. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Evercore reaffirmed an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Finally, HSBC upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price target for the company from $260.00 to $366.00 in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.43.

Read Our Latest Report on AAPL

Apple Profile

(Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

See Also

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:AAPLFree Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.