Riverpark Capital Management LLC Purchases 647 Shares of Apple Inc. (NASDAQ:AAPL)

Riverpark Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,823 shares of the iPhone maker’s stock after purchasing an additional 647 shares during the quarter. Apple accounts for 4.7% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Riverpark Capital Management LLC’s holdings in Apple were worth $3,543,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Yeomans Consulting Group Inc. purchased a new position in shares of Apple during the 4th quarter worth approximately $1,713,000. Raleigh Capital Management Inc. increased its position in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA acquired a new position in shares of Apple in the fourth quarter worth $38,406,000. Barden Capital Management Inc. lifted its position in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC acquired a new stake in shares of Apple during the fourth quarter valued at $4,782,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. TD Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Sanford C. Bernstein boosted their price target on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Finally, Citigroup restated a “buy” rating and set a $255.00 price objective on shares of Apple in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $226.78 on Thursday. The business’s 50-day simple moving average is $222.56 and its 200 day simple moving average is $203.34. The company has a market cap of $3.48 trillion, a P/E ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a one year low of $164.07 and a one year high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed 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 dividend payout ratio is currently 15.55%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $1,958,850.00. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 in the last ninety days. Insiders own 0.06% of the company’s stock.

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.