I find Applescript quite readable, especially for its purpose, but it's a pain to write, because, unless you use it often, you never know which subset of English is valid.
It's the assignment part; it says where the result should go. In this case, back to the "COBOL" variable. But, it's optional if you're assigning back to the source: ADD 1 TO COBOL means the same thing as ADD 1 TO COBOL GIVING COBOL. But, you can also do ADD 1 TO COBOL GIVING FOOBAR to assign it somewhere else.
(Yes, I just spent the last 10 minutes reading the COBOL pages on Wikipedia and Wikibooks.)
Allegedly in the 80s software vendors sometimes advertised that their products were programmable/extensible in plain English. By which they meant BASIC.
Yes, but the GP was commenting that they'd never code in that, given the "ugliness". I'd love to reply to both posts as a set, but alas, it doesn't offer that.
ADD 1 TO COBOL GIVING COBOL
is also readable, and yet (thankfully!) we've mostly abandoned COBOL.
And no, I'm not saying Python is bad, or like COBOL - just that readability and quality of a language are not necessarily related.