Apple Inc. (NASDAQ:AAPL) is MKT Advisors LLC’s 7th Largest Position

MKT Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 10.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,625 shares of the iPhone maker’s stock after selling 1,330 shares during the period. Apple accounts for about 1.6% of MKT Advisors LLC’s holdings, making the stock its 7th biggest holding. MKT Advisors LLC’s holdings in Apple were worth $2,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. IFM Investors Pty Ltd increased its position in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. increased its position in Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the period. Markel Corp increased its position in Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC increased its position in Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC increased its position in Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the period. 58.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Sanford C. Bernstein restated a “market perform” rating and issued a $195.00 price target on shares of Apple in a research report on Monday, October 9th. Bank of America reiterated a “neutral” rating and set a $173.00 target price on shares of Apple in a research report on Tuesday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Rosenblatt Securities dropped their target price on Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Finally, Jefferies Financial Group dropped their target price on Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.25.

Apple Trading Up 0.9 %

Shares of Apple stock opened at $191.45 on Tuesday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The firm has a market cap of $2.98 trillion, a PE ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. The business’s fifty day moving average is $177.15 and its two-hundred day moving average is $181.03. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. During the same quarter in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 6.56 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s dividend payout ratio is presently 15.69%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the sale, the senior vice president now directly owns 293,266 shares in the company, valued at approximately $55,365,688.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 567,839 shares of company stock worth $100,675,794 in the last ninety days. Insiders own 0.06% of the company’s stock.

About Apple

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.