Rovin Capital UT ADV Increases Stake in Apple Inc. (NASDAQ:AAPL)

Rovin Capital UT ADV raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,933 shares of the iPhone maker’s stock after purchasing an additional 3,055 shares during the quarter. Apple makes up approximately 2.3% of Rovin Capital UT ADV’s holdings, making the stock its 9th largest holding. Rovin Capital UT ADV’s holdings in Apple were worth $6,275,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AAPL. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the third 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 last quarter. ARK Investment Management LLC bought a new stake in shares of Apple in the third quarter worth $110,000. Finally, Cordant Inc. boosted its holdings in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $233.28 on Wednesday. The business’s fifty day simple moving average is $240.63 and its 200 day simple moving average is $230.52. 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 Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AAPL shares. Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday, December 10th. Citigroup increased their price objective on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their target price on shares of Apple to $184.00 and gave the company a “sell” rating in a research note on Friday, January 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Friday, January 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.85.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

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.