Apple Inc. (NASDAQ:AAPL) Position Boosted by Ieq Capital LLC

Ieq Capital LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 4.4% in the second quarter, HoldingsChannel.com reports. The fund owned 1,675,713 shares of the iPhone maker’s stock after acquiring an additional 70,266 shares during the period. Apple comprises about 4.7% of Ieq Capital LLC’s portfolio, making the stock its 3rd largest holding. Ieq Capital LLC’s holdings in Apple were worth $352,939,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Bellwether Advisors LLC grew its stake in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the period. Gentry Private Wealth LLC bought a new position in shares of Apple in the 2nd quarter worth about $876,000. Independent Advisor Alliance lifted its position in Apple by 0.9% during the 2nd quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock valued at $193,926,000 after acquiring an additional 8,028 shares during the period. WT Asset Management Ltd purchased a new position in Apple during the 2nd quarter valued at about $80,057,000. Finally, TD Asset Management Inc boosted its stake in Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after acquiring an additional 1,557,848 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $227.48 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $226.91 and a 200 day moving average of $213.51.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. On average, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is currently 16.45%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple 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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, 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. Insiders sold a total of 412,746 shares of company stock valued at $93,021,362 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Citigroup raised their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Raymond James raised their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.51.

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.