Davidson Kempner Capital Management LP Makes New $25.24 Million Investment in Apple Inc. (NASDAQ:AAPL)

Davidson Kempner Capital Management LP purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 120,000 shares of the iPhone maker’s stock, valued at approximately $25,240,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verus Financial Partners Inc. grew its stake in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory boosted its holdings in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. grew its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC increased its stake in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its position in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AAPL shares. Robert W. Baird upped their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Citigroup increased their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Raymond James raised their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Price Performance

Shares of NASDAQ AAPL opened at $226.96 on Monday. 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 stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The firm’s 50 day simple moving average is $226.82 and its 200-day simple moving average is $214.36. Apple Inc. has a 12 month low of $164.07 and a 12 month 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. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,746 shares of company stock worth $93,021,362. Company insiders own 0.06% of the company’s stock.

Apple Company Profile

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.