A number of other institutional investors have also recently made changes to their positions in AAPL. Ryan Investment Management Inc. acquired a new position in shares of Apple during the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Nexus Investment Management ULC grew its position in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares during the last quarter. LSV Asset Management acquired a new position in Apple during the 4th quarter valued at approximately $65,000. Finally, Morgan Dempsey Capital Management LLC raised its holdings in shares of Apple by 41.0% in the second quarter. Morgan Dempsey Capital Management LLC now owns 430 shares of the iPhone maker’s stock worth $88,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insiders Place Their Bets
In related news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares in the company, valued at $4,095,030.54. The trade was a 19.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on AAPL shares. Rosenblatt Securities boosted their price objective on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Monness Crespi & Hardt boosted their price target on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research note on Monday, December 29th. Seaport Res Ptn raised Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Barclays increased their price target on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $283.92.
Apple Stock Down 1.8%
Apple stock opened at $262.36 on Wednesday. The business’s 50-day moving average price is $273.49 and its 200 day moving average price is $245.90. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The firm has a market cap of $3.88 trillion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data 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 business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is presently 13.92%.
Apple News Summary
Here are the key news stories impacting Apple this week:
Apple Company Profile
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
Further Reading
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