Ninepoint Partners LP Increases Position in Apple Inc. (NASDAQ:AAPL)

Ninepoint Partners LP grew its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,668 shares of the iPhone maker’s stock after buying an additional 262 shares during the period. Ninepoint Partners LP’s holdings in Apple were worth $645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Power Corp of Canada raised its holdings in shares of Apple by 15.1% in the third quarter. Power Corp of Canada now owns 140,469 shares of the iPhone maker’s stock valued at $19,413,000 after buying an additional 18,469 shares during the last quarter. Alamar Capital Management LLC raised its holdings in shares of Apple by 14.9% in the third quarter. Alamar Capital Management LLC now owns 17,086 shares of the iPhone maker’s stock valued at $2,361,000 after buying an additional 2,219 shares during the last quarter. Ambassador Advisors LLC raised its holdings in shares of Apple by 5.2% in the third quarter. Ambassador Advisors LLC now owns 34,012 shares of the iPhone maker’s stock valued at $4,701,000 after buying an additional 1,696 shares during the last quarter. Spotlight Asset Group Inc. purchased a new stake in shares of Apple in the third quarter valued at about $14,288,000. Finally, National Pension Service raised its holdings in shares of Apple by 2.0% in the third quarter. National Pension Service now owns 22,096,062 shares of the iPhone maker’s stock valued at $3,148,247,000 after buying an additional 429,447 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $152.99 on Thursday. The business’s 50-day moving average price is $145.51 and its 200 day moving average price is $145.38. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The company has a market capitalization of $2.42 trillion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The company had revenue of $117.15 billion for the quarter, compared to analysts’ expectations of $121.67 billion. During the same quarter in the previous year, the company earned $2.10 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. Apple’s payout ratio is currently 15.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AAPL shares. Raymond James reduced their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Barclays boosted their price target on shares of Apple from $133.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, February 3rd. UBS Group set a $180.00 price target on shares of Apple in a research note on Tuesday, March 7th. Credit Suisse Group set a $184.00 price objective on Apple in a report on Monday, February 6th. Finally, Cowen reduced their target price on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.24.

Apple Company Profile

(Get Rating)

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.