Apple Inc. (NASDAQ:AAPL) is Pallas Capital Advisors LLC’s 5th Largest Position

Pallas Capital Advisors LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,982 shares of the iPhone maker’s stock after purchasing an additional 7,365 shares during the period. Apple accounts for about 2.1% of Pallas Capital Advisors LLC’s holdings, making the stock its 5th biggest position. Pallas Capital Advisors LLC’s holdings in Apple were worth $51,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Bull Oak Capital LLC grew its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. increased its holdings in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Finally, Sage Financial Group Inc. purchased a new stake in Apple in the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAPL. Barclays lowered their price objective 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. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Wedbush increased their price objective on Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup boosted their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $237.47.

Apple Stock Down 1.3 %

Shares of Apple stock opened at $255.59 on Friday. The stock’s fifty day moving average is $237.41 and its 200-day moving average is $227.79. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.86 trillion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 508,170 shares of company stock worth $117,004,745. Corporate insiders own 0.06% of the company’s stock.

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.