Oak Asset Management LLC Has $32.71 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Oak Asset Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,313 shares of the iPhone maker’s stock after selling 330 shares during the period. Apple makes up about 12.0% of Oak Asset Management LLC’s investment portfolio, making the stock its largest position. Oak Asset Management LLC’s holdings in Apple were worth $32,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc acquired a new stake in Apple during the 1st quarter worth about $35,000. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple in the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. grew its position in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Apple during the 4th quarter valued at $85,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AAPL. Monness Crespi & Hardt raised their target price on Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Cfra lifted their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Tuesday, August 27th. Citigroup reaffirmed a “buy” rating and set a $255.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, Barclays cut their target price on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $237.30.

Apple Price Performance

Shares of AAPL stock opened at $222.77 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.69 and a beta of 1.24. The stock has a 50 day moving average of $222.57 and a two-hundred day moving average of $196.53. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is currently 15.55%.

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.