Bedell Frazier Investment Counselling LLC Has $31.35 Million Stock Position in Apple Inc. $AAPL

Bedell Frazier Investment Counselling LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 152,774 shares of the iPhone maker’s stock after selling 3,474 shares during the quarter. Apple accounts for approximately 7.9% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its biggest holding. Bedell Frazier Investment Counselling LLC’s holdings in Apple were worth $31,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Futures Ltd Liability Co. boosted its position in shares of Apple by 13.2% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 415 shares during the last quarter. Bell & Brown Wealth Advisors LLC lifted its stake in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust boosted its holdings in Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the last quarter. Riverwater Partners LLC grew its position in shares of Apple by 17.9% during the 2nd quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock worth $1,109,000 after buying an additional 819 shares during the period. Finally, Andina Capital Management LLC increased its stake in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after acquiring an additional 4,591 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AAPL shares. Cowen reissued a “buy” rating on shares of Apple in a research note on Monday, October 27th. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research report on Monday, December 1st. Melius Research set a $345.00 target price on Apple in a report on Friday, October 31st. Finally, Loop Capital reissued a “buy” rating and issued a $325.00 target price (up from $315.00) on shares of Apple in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.06.

Apple Stock Down 0.3%

Apple stock opened at $277.89 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62. The company has a fifty day simple moving average of $266.50 and a 200 day simple moving average of $235.02. The company has a market cap of $4.11 trillion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is owned by insiders.

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.