Traveka Wealth LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

Traveka Wealth LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,830 shares of the iPhone maker’s stock after buying an additional 657 shares during the quarter. Apple comprises 2.9% of Traveka Wealth LLC’s portfolio, making the stock its 8th biggest holding. Traveka Wealth LLC’s holdings in Apple were worth $5,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. China Universal Asset Management Co. Ltd. increased its holdings in shares of Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Apple by 0.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 506,642 shares of the iPhone maker’s stock valued at $86,879,000 after buying an additional 1,936 shares in the last quarter. Tobam increased its stake in Apple by 3.9% in the 1st quarter. Tobam now owns 21,459 shares of the iPhone maker’s stock worth $3,680,000 after acquiring an additional 810 shares during the last quarter. BNP Paribas bought a new position in shares of Apple in the 1st quarter valued at about $88,000,000. Finally, Alliance Wealth Management Group raised its stake in shares of Apple by 2.6% in the first quarter. Alliance Wealth Management Group now owns 30,094 shares of the iPhone maker’s stock valued at $5,160,000 after acquiring an additional 755 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $229.87 on Monday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market cap of $3.47 trillion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. The firm’s fifty day simple moving average is $227.73 and its 200-day simple moving average is $218.30. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was 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%.

Analyst Ratings Changes

A number of brokerages have weighed in on AAPL. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Tigress Financial raised their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

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.