Apple Inc. (NASDAQ:AAPL) Shares Bought by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,937 shares of the iPhone maker’s stock after buying an additional 2,050 shares during the period. Apple accounts for 2.5% of Raleigh Capital Management Inc.’s holdings, making the stock its 4th biggest holding. Raleigh Capital Management Inc.’s holdings in Apple were worth $6,509,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its position in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares during the period. Westwood Holdings Group Inc. lifted its stake in Apple by 2.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock valued at $130,629,000 after acquiring an additional 17,519 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in Apple by 9.8% during the 1st quarter. Kestra Advisory Services LLC now owns 2,464,000 shares of the iPhone maker’s stock worth $422,527,000 after acquiring an additional 220,502 shares during the last quarter. BOKF NA grew its stake in shares of Apple by 2.2% in the 1st quarter. BOKF NA now owns 939,572 shares of the iPhone maker’s stock worth $159,755,000 after acquiring an additional 20,499 shares in the last quarter. Finally, Fairview Capital Investment Management LLC raised its holdings in shares of Apple by 1.4% in the first quarter. Fairview Capital Investment Management LLC now owns 138,900 shares of the iPhone maker’s stock valued at $23,819,000 after purchasing an additional 1,977 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Apple stock opened at $251.04 on Tuesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $251.38. The firm has a market cap of $3.79 trillion, a P/E ratio of 41.29, a P/E/G ratio of 2.41 and a beta of 1.23. 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 50-day moving average of $233.09 and a 200-day moving average of $224.30.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business 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 business earned $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple 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 directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AAPL shares. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Loop Capital lowered their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Moffett Nathanson dropped their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

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.