Apple Inc. (NASDAQ:AAPL) Position Raised by Canal Capital Management LLC

Canal Capital Management LLC grew its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,706 shares of the iPhone maker’s stock after purchasing an additional 2,311 shares during the period. Apple makes up 3.5% of Canal Capital Management LLC’s holdings, making the stock its 3rd largest position. Canal Capital Management LLC’s holdings in Apple were worth $11,983,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAPL. Wealthspire Advisors LLC grew its holdings in Apple by 42.8% in the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock valued at $40,993,000 after purchasing an additional 89,865 shares during the period. Emerald Advisors LLC lifted its position in shares of Apple by 2.4% in the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after acquiring an additional 465 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in Apple by 35.7% during the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 6,735 shares in the last quarter. Callan Capital LLC lifted its position in Apple by 1.6% during the second quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after buying an additional 1,322 shares in the last quarter. Finally, Sageworth Trust Co lifted its position in Apple by 150.3% during the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock worth $793,000 after buying an additional 3,482 shares in the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAPL shares. Rosenblatt Securities reduced their target price on Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Oppenheimer dropped their price objective on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. KeyCorp reissued a “buy” rating and set a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. Citigroup reaffirmed a “buy” rating and set a $175.00 price target on shares of Apple in a report on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $166.73.

Apple Stock Up 1.9 %

NASDAQ:AAPL opened at $137.87 on Monday. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. The stock has a 50-day simple moving average of $138.72 and a 200 day simple moving average of $148.18. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued 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 yield of 0.67%. Apple’s dividend payout ratio is currently 15.06%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred 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 sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred 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 sale, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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