Apple Inc. (NASDAQ:AAPL) Holdings Reduced by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% in the second quarter, HoldingsChannel reports. The firm owned 91,587 shares of the iPhone maker’s stock after selling 7,112 shares during the quarter. Apple accounts for approximately 5.7% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 2nd largest holding. McCollum Christoferson Group LLC’s holdings in Apple were worth $19,290,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Swedbank AB purchased a new position in Apple during the 1st quarter valued at $3,026,492,000. Global Assets Advisory LLC grew its holdings in shares of Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after purchasing an additional 9,200,345 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and increased their price target for the company from $170.00 to $300.00 in a research note on Monday, July 15th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Price Performance

NASDAQ:AAPL opened at $229.04 on Friday. The stock has a 50 day moving average of $223.25 and a two-hundred day moving average of $205.14. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.51 trillion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. On average, analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

About Apple

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.