Gardner Lewis Asset Management L P Has $13.29 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Gardner Lewis Asset Management L P grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,075 shares of the iPhone maker’s stock after purchasing an additional 1,120 shares during the period. Apple makes up about 3.6% of Gardner Lewis Asset Management L P’s portfolio, making the stock its 6th biggest position. Gardner Lewis Asset Management L P’s holdings in Apple were worth $13,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Access Investment Management LLC bought a new stake in shares of Apple in the 1st quarter valued at approximately $140,000. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple during the 2nd quarter worth approximately $208,000. Finally, Sequent Asset Management LLC bought a new stake in shares of Apple during the 2nd quarter worth approximately $214,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $222.72 on Thursday. The stock has a market cap of $3.39 trillion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The business has a 50-day simple moving average of $226.91 and a 200-day simple moving average of $213.51. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post 7.45 EPS for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Tigress Financial raised their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Activity at Apple

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, 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 is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock worth $94,142,399 in the last 90 days. Corporate 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.