Malaga Cove Capital LLC Buys 103 Shares of Apple Inc. (NASDAQ:AAPL)

Malaga Cove Capital LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 16,523 shares of the iPhone maker’s stock after acquiring an additional 103 shares during the quarter. Apple accounts for 1.5% of Malaga Cove Capital LLC’s holdings, making the stock its 12th largest position. Malaga Cove Capital LLC’s holdings in Apple were worth $3,850,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AAPL. Lantz Financial LLC raised its stake in shares of Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after acquiring an additional 2,361 shares in the last quarter. BlueSky Wealth Advisors LLC increased its position in Apple by 42.1% in the 2nd quarter. BlueSky Wealth Advisors LLC now owns 8,516 shares of the iPhone maker’s stock worth $1,794,000 after buying an additional 2,521 shares during the period. Mcdonald Partners LLC increased its position in Apple by 4.0% in the 2nd quarter. Mcdonald Partners LLC now owns 77,458 shares of the iPhone maker’s stock worth $16,314,000 after buying an additional 2,959 shares during the period. Comprehensive Financial Consultants Institutional Inc. increased its position in Apple by 3.1% in the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 29,262 shares of the iPhone maker’s stock worth $6,163,000 after buying an additional 878 shares during the period. Finally, Divergent Wealth Advisors bought a new position in Apple in the 2nd quarter worth approximately $317,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Sanford C. Bernstein lifted their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $236.85 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.58 trillion, a P/E ratio of 38.96, a P/E/G ratio of 2.41 and a beta of 1.20. The business’s fifty day moving average is $240.18 and its two-hundred day moving average is $230.10. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for 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 revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

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.