Bennett Selby Investments LP Has $31.65 Million Position in Apple Inc. (NASDAQ:AAPL)

Bennett Selby Investments LP boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 150,268 shares of the iPhone maker’s stock after acquiring an additional 755 shares during the period. Apple accounts for about 14.2% of Bennett Selby Investments LP’s holdings, making the stock its biggest position. Bennett Selby Investments LP’s holdings in Apple were worth $31,649,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Flagstone Financial Management boosted its holdings in Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares during the period. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Stableford Capital II LLC boosted its holdings in shares of Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after acquiring an additional 59 shares during the period. Kwmg LLC grew its position in shares of Apple by 0.6% in the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after purchasing an additional 60 shares in the last quarter. Finally, Greylin Investment Management Inc raised its stake in shares of Apple by 0.4% during the 1st quarter. Greylin Investment Management Inc now owns 16,711 shares of the iPhone maker’s stock valued at $2,866,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Price Performance

AAPL opened at $226.49 on Thursday. The stock’s 50 day moving average price is $220.80 and its 200-day moving average price is $195.02. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. On average, equities research analysts predict that Apple Inc. will post 6.61 EPS for the current year.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday. StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Maxim Group boosted their price target on shares of Apple from $195.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Apple from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.30.

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.