WT Asset Management Ltd Purchases New Shares in Apple Inc. (NASDAQ:AAPL)

WT Asset Management Ltd acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 380,103 shares of the iPhone maker’s stock, valued at approximately $80,057,000. Apple comprises about 7.8% of WT Asset Management Ltd’s portfolio, making the stock its 6th biggest position.

Other institutional investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. acquired a new position in shares of Apple during the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. raised its holdings in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA acquired a new position in Apple during the 4th quarter valued at about $38,406,000. Barden Capital Management Inc. boosted its stake in shares of Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $4,782,000. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other news, 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 $3,469,275. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.1 %

AAPL stock opened at $227.79 on Monday. The firm has a 50-day moving average price of $222.19 and a 200-day moving average price of $202.38. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $3.49 trillion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Moffett Nathanson assumed coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Tuesday, September 10th. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Cfra upped their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.76.

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.