Apple Inc. $AAPL is Cohen Investment Advisors LLC’s Largest Position

Cohen Investment Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,757 shares of the iPhone maker’s stock after purchasing an additional 4,324 shares during the period. Apple accounts for about 5.8% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its largest position. Cohen Investment Advisors LLC’s holdings in Apple were worth $9,942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter worth about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth about $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter worth about $82,000. Compass Planning Associates Inc purchased a new stake in shares of Apple during the 4th quarter worth about $96,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Apple during the 4th quarter valued at about $147,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

AAPL opened at $226.01 on Thursday. The stock’s 50 day moving average price is $211.38 and its two-hundred day moving average price is $213.15. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.35 trillion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Apple announced that its Board of Directors has approved a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAPL. Scotiabank lowered Apple to a “market perform” rating in a report on Friday, May 2nd. TD Cowen lowered their price objective on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup increased their price objective on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, August 1st. Morgan Stanley increased their price objective on Apple from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price objective on shares of Apple in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.60.

Read Our Latest Research Report on Apple

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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