Apple Inc. (NASDAQ:AAPL) is Next Capital Management LLC’s 7th Largest Position

Next Capital Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,886 shares of the iPhone maker’s stock after buying an additional 425 shares during the quarter. Apple comprises about 4.0% of Next Capital Management LLC’s holdings, making the stock its 7th largest position. Next Capital Management LLC’s holdings in Apple were worth $9,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC boosted its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter valued at about $42,000. Access Investment Management LLC purchased a new stake in Apple during the first quarter worth about $140,000. Hoese & Co LLP grew its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Finally, Sage Financial Group Inc. acquired a new position in Apple during the second quarter worth about $206,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 35.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,040 shares of company stock valued at $91,062,512 over the last three months. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Loop Capital dropped their price target on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Finally, Bank of America restated a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Stock Performance

Shares of AAPL opened at $225.00 on Friday. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. 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 business’s 50 day moving average is $227.04 and its two-hundred day moving average is $215.96. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 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.