OV Management LLC Acquires 408 Shares of Apple Inc. (NASDAQ:AAPL)

OV Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 38,826 shares of the iPhone maker’s stock after acquiring an additional 408 shares during the quarter. Apple accounts for 5.7% of OV Management LLC’s investment portfolio, making the stock its 3rd biggest holding. OV Management LLC’s holdings in Apple were worth $8,178,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Capital International Investors raised its position in shares of Apple by 7.1% during the first 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 during the period. American Century Companies Inc. raised its position in shares of 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 period. Jennison Associates LLC grew its holdings in Apple by 1.7% during 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 grew its holdings in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Loop Capital upped their price target on Apple to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Cfra upped their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Robert W. Baird upped their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Oppenheimer reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.23.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This 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 available through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the 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 transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 1.3 %

Shares of Apple stock opened at $222.91 on Friday. The firm has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. 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 firm’s 50 day moving average is $227.18 and its 200 day moving average is $212.03. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 15.22%.

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.