Chicago Capital LLC Has $114.95 Million Stake in Apple Inc. (NASDAQ:AAPL)

Chicago Capital LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 545,774 shares of the iPhone maker’s stock after purchasing an additional 25,585 shares during the period. Apple comprises about 3.4% of Chicago Capital LLC’s portfolio, making the stock its 5th largest position. Chicago Capital LLC’s holdings in Apple were worth $114,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Capital International Investors increased its stake in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after buying an additional 485,873 shares during the period. Swedbank AB boosted its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Apple by 16.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after acquiring an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Apple by 2.5% during the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after acquiring an additional 415,186 shares during the period. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Moffett Nathanson started coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. UBS Group reiterated a “hold” rating and set a $236.00 price objective on shares of Apple in a report on Wednesday, October 16th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.27.

Apple Stock Performance

NASDAQ AAPL opened at $230.76 on Thursday. The stock has a market cap of $3.54 trillion, a PE ratio of 35.89, a P/E/G ratio of 2.40 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. The firm has a 50-day moving average of $226.64 and a 200-day moving average of $209.48. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued 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 0.43%. Apple’s payout ratio is currently 15.55%.

Insider Activity at Apple

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

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.