Summit Rock Advisors LP lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,544 shares of the iPhone maker’s stock after acquiring an additional 107 shares during the quarter. Apple comprises approximately 12.9% of Summit Rock Advisors LP’s holdings, making the stock its 5th biggest holding. Summit Rock Advisors LP’s holdings in Apple were worth $32,980,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. increased its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Finally, EMC Capital Management grew its holdings in shares of Apple by 7.3% in the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Apple Stock Performance
NASDAQ:AAPL opened at $236.85 on Friday. The business’s 50-day moving average price is $240.18 and its two-hundred day moving average price is $229.95. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a market cap of $3.58 trillion, a P/E ratio of 38.96, a PEG ratio of 2.41 and a beta of 1.20. 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 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 annualized dividend and a yield of 0.42%. Apple’s payout ratio is 16.45%.
Insider Buying and Selling
In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now 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 disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
AAPL has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Citigroup boosted their price target on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.85.
Read Our Latest Report on AAPL
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.
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