Argus Investors Counsel Inc. Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Argus Investors Counsel Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,279 shares of the iPhone maker’s stock after purchasing an additional 482 shares during the quarter. Apple accounts for 3.4% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 2nd biggest holding. Argus Investors Counsel Inc.’s holdings in Apple were worth $5,252,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. IFM Investors Pty Ltd raised its stake in Apple by 20.0% during the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the period. Ironwood Wealth Management LLC. grew its holdings in shares of Apple by 0.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Markel Corp grew its holdings in shares of Apple by 0.7% during the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares in the last quarter. Camden Capital LLC grew its holdings in shares of Apple by 9.2% during the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC grew its holdings in shares of Apple by 0.3% during the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $167.04 on Friday. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $2.58 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The firm has a 50-day moving average price of $175.15 and a 200 day moving average price of $182.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio is 14.95%.

Wall Street Analyst Weigh In

AAPL has been the topic of several research analyst reports. DA Davidson initiated coverage on shares of Apple in a report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price target on the stock. Morgan Stanley restated an “overweight” rating and set a $220.00 price target on shares of Apple in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Robert W. Baird upped their price objective on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Maxim Group started coverage on shares of Apple in a report on Wednesday. They issued a “hold” rating and a $178.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $203.34.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

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.