Apple Inc. (NASDAQ:AAPL) Stock Position Increased by InTrack Investment Management Inc

InTrack Investment Management Inc grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 23,961 shares of the iPhone maker’s stock after buying an additional 483 shares during the quarter. Apple accounts for about 4.0% of InTrack Investment Management Inc’s portfolio, making the stock its 3rd biggest position. InTrack Investment Management Inc’s holdings in Apple were worth $5,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Granite Investment Partners LLC boosted its holdings in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp raised its stake in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC raised its stake in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the period. GAMMA Investing LLC raised its stake in Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after acquiring an additional 51,842 shares during the period. Finally, Bellwether Advisors LLC raised its stake in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, 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 value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.0 %

Shares of AAPL opened at $237.33 on Monday. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 39.03, a P/E/G ratio of 2.33 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.81. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a fifty day moving average price of $229.02 and a 200-day moving average price of $220.02.

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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAPL shares. UBS Group raised their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Friday, October 25th. Finally, Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Apple 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.