Shaker Investments LLC OH Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Shaker Investments LLC OH grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 80.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,265 shares of the iPhone maker’s stock after purchasing an additional 10,784 shares during the quarter. Apple makes up 2.4% of Shaker Investments LLC OH’s holdings, making the stock its 8th biggest holding. Shaker Investments LLC OH’s holdings in Apple were worth $5,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in 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 valued at $12,943,000 after purchasing an additional 42,282 shares during the period. Empowered Funds LLC grew its position in shares of Apple by 37.5% in the 1st quarter. Empowered Funds LLC now owns 278,379 shares of the iPhone maker’s stock valued at $47,736,000 after buying an additional 75,939 shares during the last quarter. Marquette Asset Management LLC increased its stake in shares of Apple by 0.6% in the first quarter. Marquette Asset Management LLC now owns 12,686 shares of the iPhone maker’s stock valued at $2,175,000 after buying an additional 78 shares during the period. Mystic Asset Management Inc. raised its position in shares of Apple by 1.7% during the first quarter. Mystic Asset Management Inc. now owns 49,910 shares of the iPhone maker’s stock worth $8,559,000 after acquiring an additional 819 shares during the last quarter. Finally, Spectrum Investment Advisors Inc. lifted its stake in shares of Apple by 1.1% in the first quarter. Spectrum Investment Advisors Inc. now owns 9,578 shares of the iPhone maker’s stock worth $1,642,000 after acquiring an additional 104 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Maxim Group raised their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by insiders.

Apple Trading Up 1.0 %

Shares of AAPL stock opened at $237.33 on Monday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.81. The company has a 50-day simple moving average of $229.02 and a two-hundred day simple moving average of $220.02. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.33 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.