Apple Inc. (NASDAQ:AAPL) is Synergy Asset Management LLC’s 5th Largest Position

Synergy Asset Management LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 118,904 shares of the iPhone maker’s stock after buying an additional 4,365 shares during the period. Apple comprises 3.9% of Synergy Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Synergy Asset Management LLC’s holdings in Apple were worth $25,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Capital International Investors lifted its stake in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. Jennison Associates LLC raised its position in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after buying an additional 485,873 shares in the last quarter. Swedbank AB boosted its stake in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Apple by 16.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after buying an additional 2,594,138 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after acquiring an additional 415,186 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. KeyCorp reissued a “hold” rating and issued a $247.61 price target on shares of Apple in a research note on Wednesday, August 28th. Citigroup reaffirmed a “buy” rating and set a $255.00 price objective on shares of Apple in a report on Wednesday, October 2nd. Loop Capital increased their target price on Apple to $300.00 and gave the company a “buy” rating in a research note on Monday. Finally, Moffett Nathanson started coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

Shares of Apple stock opened at $236.48 on Tuesday. The company’s fifty day simple moving average is $226.16 and its two-hundred day simple moving average is $208.86. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.63 trillion, a P/E ratio of 36.78, a PEG ratio of 2.40 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

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.