Point72 Hong Kong Ltd Buys Shares of 110,791 Apple Inc. (NASDAQ:AAPL)

Point72 Hong Kong Ltd acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 110,791 shares of the iPhone maker’s stock, valued at approximately $23,335,000. Apple makes up about 1.4% of Point72 Hong Kong Ltd’s portfolio, making the stock its 14th biggest position.

A number of other large investors have also recently bought and sold shares of the business. Azzad Asset Management Inc. ADV raised its position in Apple by 1.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 174,052 shares of the iPhone maker’s stock worth $29,846,000 after purchasing an additional 1,962 shares in the last quarter. Graphene Investments SAS raised its position in shares of Apple by 11.4% during the first quarter. Graphene Investments SAS now owns 54,700 shares of the iPhone maker’s stock worth $9,380,000 after acquiring an additional 5,600 shares during the last quarter. KFG Wealth Management LLC grew its position in shares of Apple by 31.3% during the 1st quarter. KFG Wealth Management LLC now owns 23,944 shares of the iPhone maker’s stock worth $4,106,000 after buying an additional 5,702 shares during the period. Svenska Handelsbanken AB publ bought a new position in Apple during the first quarter worth about $343,000. Finally, OMNI 360 Wealth Inc. increased its stake in shares of Apple by 4.1% in the 1st quarter. OMNI 360 Wealth Inc. now owns 16,308 shares of the iPhone maker’s stock valued at $2,796,000 after acquiring an additional 638 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $224.23 on Wednesday. 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 one year low of $164.07 and a one year high of $237.49. The company’s fifty day moving average price is $226.72 and its 200-day moving average price is $215.06. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.88, a PEG ratio of 2.22 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction 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 sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock valued at $93,021,362 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. UBS Group upped their price objective on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday. Barclays reduced their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Finally, TD Cowen lifted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.