Princeton Capital Management LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Princeton Capital Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,317 shares of the iPhone maker’s stock after acquiring an additional 283 shares during the quarter. Apple comprises about 9.5% of Princeton Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Princeton Capital Management LLC’s holdings in Apple were worth $29,132,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. M3 Advisory Group LLC bought a new position in Apple in the 4th quarter valued at about $2,339,000. Accent Capital Management LLC bought a new position in Apple in the 4th quarter valued at about $19,428,000. Warren Street Wealth Advisors LLC increased its holdings in Apple by 10.3% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 16,665 shares of the iPhone maker’s stock valued at $3,208,000 after buying an additional 1,557 shares during the period. Financial Life Advisors bought a new position in Apple in the 4th quarter valued at about $212,000. Finally, Cooksen Wealth LLC bought a new position in Apple in the 4th quarter valued at about $706,000. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $231.78 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.40 and a beta of 1.24. The stock has a fifty day moving average of $225.03 and a 200 day moving average of $207.22. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last announced 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 analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Sanford C. Bernstein raised their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

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.