Front Row Advisors LLC Has $30.55 Million Position in Apple Inc. (NASDAQ:AAPL)

Front Row Advisors LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the second quarter, HoldingsChannel reports. The firm owned 145,035 shares of the iPhone maker’s stock after buying an additional 1,797 shares during the period. Apple comprises 10.6% of Front Row Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Front Row Advisors LLC’s holdings in Apple were worth $30,547,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Swedbank AB bought a new stake in shares of Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC raised its holdings in Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of Apple during the second quarter worth about $834,368,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. Raymond James increased their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. TD Cowen lifted their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. The Goldman Sachs Group lifted their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wedbush reissued an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,040 shares of company stock worth $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $225.00 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.40 trillion, a PE ratio of 37.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. The company’s 50 day moving average is $226.96 and its 200 day moving average is $215.60.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is presently 16.45%.

Apple Company 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.