DecisionPoint Financial LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

DecisionPoint Financial LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 10,815 shares of the iPhone maker’s stock after acquiring an additional 180 shares during the quarter. Apple makes up approximately 0.8% of DecisionPoint Financial LLC’s investment portfolio, making the stock its 16th largest position. DecisionPoint Financial LLC’s holdings in Apple were worth $2,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AAPL. Searcy Financial Services Inc. ADV boosted its position in Apple by 2.6% during the first quarter. Searcy Financial Services Inc. ADV now owns 49,490 shares of the iPhone maker’s stock worth $8,487,000 after purchasing an additional 1,241 shares in the last quarter. Griffin Asset Management Inc. boosted its position in Apple by 2.6% during the first quarter. Griffin Asset Management Inc. now owns 197,080 shares of the iPhone maker’s stock worth $33,795,000 after purchasing an additional 4,980 shares in the last quarter. Grimes & Company Inc. boosted its position in Apple by 9.5% during the first quarter. Grimes & Company Inc. now owns 446,017 shares of the iPhone maker’s stock worth $76,483,000 after purchasing an additional 38,608 shares in the last quarter. Meritas Wealth Management LLC boosted its position in Apple by 0.4% during the first quarter. Meritas Wealth Management LLC now owns 41,527 shares of the iPhone maker’s stock worth $7,121,000 after purchasing an additional 150 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its position in Apple by 0.8% during the first quarter. Investment Research & Advisory Group Inc. now owns 86,035 shares of the iPhone maker’s stock worth $14,753,000 after purchasing an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Moffett Nathanson initiated coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Finally, Barclays decreased their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was 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 hyperlink. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was 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 hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 417,924 shares of company stock valued at $94,142,399. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

AAPL stock opened at $223.45 on Wednesday. The business has a fifty day moving average of $226.98 and a two-hundred day moving average of $213.44. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 7.45 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is presently 16.45%.

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.