Regal Partners Ltd Invests $864,000 in Apple Inc. (NASDAQ:AAPL)

Regal Partners Ltd bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, Holdings Channel reports. The firm bought 4,100 shares of the iPhone maker’s stock, valued at approximately $864,000.

Several other hedge funds have also bought and sold shares of AAPL. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the period. WT Asset Management Ltd bought a new position in Apple in the 2nd quarter worth approximately $80,057,000. Councilmark Asset Management LLC purchased a new stake in Apple during the 1st quarter valued at approximately $11,776,000. Hummer Financial Advisory Services Inc raised its position in shares of Apple by 2.2% during the first quarter. Hummer Financial Advisory Services Inc now owns 5,488 shares of the iPhone maker’s stock valued at $941,000 after buying an additional 120 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Apple by 1.1% in the first quarter. Bleakley Financial Group LLC now owns 617,582 shares of the iPhone maker’s stock worth $105,903,000 after buying an additional 6,567 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.2 %

Apple stock opened at $232.15 on Friday. The stock has a 50-day moving average price of $225.41 and a 200 day moving average price of $207.39. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. Sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on AAPL shares. Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and boosted their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Piper Sandler Companies restated a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Finally, UBS Group reissued a “hold” rating and set a $236.00 price objective on shares of Apple in a research note on Wednesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

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.