Accordant Advisory Group Inc Makes New $1.83 Million Investment in Apple Inc. (NASDAQ:AAPL)

Accordant Advisory Group Inc acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,648 shares of the iPhone maker’s stock, valued at approximately $1,826,000. Apple comprises approximately 1.4% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds also recently made changes to their positions in AAPL. Kingdom Financial Group LLC. grew its holdings in shares of Apple by 5.5% during the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after buying an additional 598 shares during the last quarter. RFG Advisory LLC grew its holdings in shares of Apple by 13.6% during the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after buying an additional 20,737 shares during the last quarter. Headinvest LLC grew its holdings in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after buying an additional 872 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after buying an additional 10,425 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in shares of Apple by 6.9% during the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after buying an additional 279,311 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AAPL shares. JPMorgan Chase & Co. reduced their price objective on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price objective on shares of Apple in a research report on Tuesday, March 5th. The Goldman Sachs Group raised their price objective on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Barclays restated an “underweight” rating and issued a $158.00 price objective on shares of Apple in a research report on Tuesday, April 23rd. Finally, Redburn Partners downgraded shares of Apple to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Stock Down 0.3 %

Shares of NASDAQ:AAPL traded down $0.59 during midday trading on Friday, hitting $169.30. 44,717,137 shares of the company’s stock traded hands, compared to its average volume of 53,363,952. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market cap of $2.61 trillion, a PE ratio of 26.37, a P/E/G ratio of 2.04 and a beta of 1.27. The firm’s fifty day moving average price is $173.04 and its two-hundred day moving average price is $181.83. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. On average, equities research analysts anticipate that Apple Inc. will post 6.54 EPS 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 issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. Apple’s dividend payout ratio is currently 14.95%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last quarter. 0.06% of the stock is owned by corporate insiders.

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.