Apple Inc. (NASDAQ:AAPL) is Raymond James Trust N.A.’s 2nd Largest Position

Raymond James Trust N.A. raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 725,902 shares of the iPhone maker’s stock after purchasing an additional 6,765 shares during the quarter. Apple makes up 3.6% of Raymond James Trust N.A.’s investment portfolio, making the stock its 2nd largest position. Raymond James Trust N.A.’s holdings in Apple were worth $152,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc acquired a new stake in Apple in the first quarter valued at $35,000. Fidelis Capital Partners LLC grew its stake in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. lifted its stake in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in Apple during the fourth quarter worth about $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $233.00 on Tuesday. The business’s 50-day simple moving average is $222.37 and its 200 day simple moving average is $202.80. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $3.57 trillion, a P/E ratio of 36.24, a PEG ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating 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 company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Profile

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.