Apple Inc. (NASDAQ:AAPL) is Waterloo Capital L.P.’s 9th Largest Position

Waterloo Capital L.P. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,236 shares of the iPhone maker’s stock after purchasing an additional 12,394 shares during the period. Apple makes up about 1.9% of Waterloo Capital L.P.’s portfolio, making the stock its 9th biggest holding. Waterloo Capital L.P.’s holdings in Apple were worth $15,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Searcy Financial Services Inc. ADV raised its stake in Apple by 2.6% in the 1st quarter. Searcy Financial Services Inc. ADV now owns 49,490 shares of the iPhone maker’s stock worth $8,487,000 after acquiring an additional 1,241 shares during the last quarter. Griffin Asset Management Inc. raised its stake in Apple by 2.6% in the 1st quarter. Griffin Asset Management Inc. now owns 197,080 shares of the iPhone maker’s stock worth $33,795,000 after acquiring an additional 4,980 shares during the last quarter. Grimes & Company Inc. raised its stake in Apple by 9.5% in the 1st quarter. Grimes & Company Inc. now owns 446,017 shares of the iPhone maker’s stock worth $76,483,000 after acquiring an additional 38,608 shares during the last quarter. Meritas Wealth Management LLC raised its stake in Apple by 0.4% in the 1st quarter. Meritas Wealth Management LLC now owns 41,527 shares of the iPhone maker’s stock worth $7,121,000 after acquiring an additional 150 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. raised its stake in Apple by 0.8% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 86,035 shares of the iPhone maker’s stock worth $14,753,000 after acquiring an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Tigress Financial increased their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. Finally, Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Trading Up 0.6 %

AAPL opened at $223.45 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company’s 50 day simple moving average is $226.98 and its two-hundred day simple moving average is $213.44. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,924 shares of company stock valued at $94,142,399. 0.06% of the stock is currently owned by company insiders.

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.