Fort Pitt Capital Group LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 473,792 shares of the iPhone maker’s stock after acquiring an additional 7,899 shares during the period. Apple makes up 3.0% of Fort Pitt Capital Group LLC’s investment portfolio, making the stock its 10th biggest position. Fort Pitt Capital Group LLC’s holdings in Apple were worth $81,118,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Atlantic Private Wealth LLC bought a new stake in Apple in the 1st quarter worth approximately $30,000. Cheyne Capital Management UK LLP lifted its holdings in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the last quarter. West Tower Group LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $64,000. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. Finally, PayPay Securities Corp lifted its holdings in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the last quarter. 58.51% of the stock is owned by institutional investors.
Analyst Ratings Changes
AAPL has been the subject of several analyst reports. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 10th. Monness Crespi & Hardt increased their target price on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America raised Apple from a “neutral” rating to a “buy” rating and increased their price objective for the company from $208.00 to $225.00 in a research note on Thursday, January 18th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Apple in a research note on Friday, February 2nd. Finally, Barclays dropped their price target on shares of Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.27.
View Our Latest Stock Report on Apple
Apple Trading Down 0.6 %
Shares of AAPL stock opened at $179.66 on Friday. Apple Inc. has a 52-week low of $143.90 and a 52-week high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market capitalization of $2.77 trillion, a PE ratio of 27.98, a PEG ratio of 2.18 and a beta of 1.29. The stock has a fifty day simple moving average of $186.88 and a two-hundred day simple moving average of $183.77.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter last year, the business posted $1.88 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 6.56 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.53%. Apple’s payout ratio is 14.95%.
Insider Activity at Apple
In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Apple Profile
(Free Report)
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.
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