Intelligence Driven Advisers LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Intelligence Driven Advisers LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,683 shares of the iPhone maker’s stock after buying an additional 695 shares during the quarter. Apple accounts for 2.0% of Intelligence Driven Advisers LLC’s investment portfolio, making the stock its 16th biggest position. Intelligence Driven Advisers LLC’s holdings in Apple were worth $10,134,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ramsey Quantitative Systems bought a new position in shares of Apple during the 2nd quarter valued at $55,000. Morgan Dempsey Capital Management LLC bought a new position in shares of Apple during the 3rd quarter valued at $55,000. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Newfound Research LLC bought a new position in shares of Apple during the 3rd quarter valued at $67,000. Finally, Emerson Wealth LLC grew its holdings in shares of Apple by 27.0% during the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America reduced their target price on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Credit Suisse Group set a $184.00 price target on shares of Apple in a report on Wednesday, January 4th. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and cut their price target for the stock from $189.00 to $160.00 in a report on Friday, September 30th. Rosenblatt Securities cut their price target on shares of Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a report on Friday. Finally, Sanford C. Bernstein cut their price target on shares of Apple from $170.00 to $125.00 in a report on Monday, January 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $171.22.

Apple Stock Performance

AAPL opened at $134.76 on Tuesday. The firm has a market cap of $2.14 trillion, a P/E ratio of 22.06, a PEG ratio of 1.74 and a beta of 1.24. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The company has a 50 day simple moving average of $139.25 and a two-hundred day simple moving average of $148.30. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. Equities analysts forecast that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.68%. Apple’s payout ratio is currently 15.06%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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