Investors Research Corp Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Investors Research Corp raised its position in Apple Inc. (NASDAQ:AAPLFree Report) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,884 shares of the iPhone maker’s stock after purchasing an additional 504 shares during the quarter. Apple accounts for approximately 0.9% of Investors Research Corp’s portfolio, making the stock its 20th largest position. Investors Research Corp’s holdings in Apple were worth $3,934,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. International Assets Investment Management LLC lifted its holdings in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This 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 is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Tuesday, January 21st. Monness Crespi & Hardt upped their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.

Read Our Latest Stock Report on Apple

Apple Trading Down 0.7 %

AAPL opened at $237.62 on Friday. The stock has a market capitalization of $3.57 trillion, a PE ratio of 39.08, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The firm’s fifty day moving average price is $241.37 and its 200 day moving average price is $230.81.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is currently 16.45%.

Apple Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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