Williams & Novak LLC Has $2.96 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Williams & Novak LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,708 shares of the iPhone maker’s stock after purchasing an additional 1,604 shares during the period. Apple makes up about 2.8% of Williams & Novak LLC’s portfolio, making the stock its 6th largest holding. Williams & Novak LLC’s holdings in Apple were worth $2,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Swedbank AB bought a new stake in shares of Apple during the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC lifted its stake in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC boosted its position in Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Apple in the second quarter valued at approximately $834,368,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Rosenblatt Securities raised their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, November 1st. 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 given a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Trading Up 0.6 %

AAPL opened at $229.87 on Monday. The company has a market cap of $3.47 trillion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. The company has a fifty day moving average price of $227.73 and a two-hundred day moving average price of $218.30. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during 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 business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

About Apple

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.