Blue Chip Wealth Management Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,736 shares of the iPhone maker’s stock after buying an additional 952 shares during the period. Apple accounts for about 9.3% of Blue Chip Wealth Management Inc.’s investment portfolio, making the stock its biggest holding. Blue Chip Wealth Management Inc.’s holdings in Apple were worth $9,196,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AAPL. Cornerstone Wealth Management LLC lifted its holdings in shares of Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock valued at $89,526,000 after purchasing an additional 16,668,866 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Apple during the 2nd quarter valued at $385,873,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Apple by 6.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock valued at $3,148,443,000 after purchasing an additional 1,030,981 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Apple by 52.6% during the 2nd quarter. Bank of Nova Scotia now owns 1,578,812 shares of the iPhone maker’s stock valued at $292,261,000 after purchasing an additional 544,275 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of Apple by 149.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 644,086 shares of the iPhone maker’s stock valued at $119,220,000 after purchasing an additional 385,707 shares during the last quarter. Institutional investors own 57.00% of the company’s stock.
In other Apple news, insider Chris Kondo sold 3,408 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now directly owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $167.71, for a total value of $255,086.91. Following the sale, the director now directly owns 1,134,804 shares in the company, valued at $190,317,978.84. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Shares of AAPL opened at $170.41 on Monday. The stock has a market cap of $837.59 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.17 by $0.01. The company had revenue of $84.31 billion for the quarter, compared to the consensus estimate of $84.07 billion. Apple had a return on equity of 50.92% and a net margin of 22.72%. On average, analysts expect that Apple Inc. will post 11.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Monday, February 11th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, February 8th. Apple’s dividend payout ratio is currently 24.52%.
Several analysts have recently commented on AAPL shares. Wedbush upgraded Apple to an “outperform” rating and decreased their price objective for the company from $310.00 to $275.00 in a report on Wednesday, November 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “buy” rating and set a $228.00 price objective on shares of Apple in a report on Friday, January 11th. Morgan Stanley increased their price objective on Apple from $226.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, November 8th. UBS Group decreased their price objective on Apple from to and set a “buy” rating for the company in a report on Monday, November 12th. Finally, Citigroup decreased their price objective on Apple from $240.00 to $200.00 and set a “buy” rating for the company in a report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $191.66.
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Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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