Point72 Hong Kong Ltd Purchases Shares of 110,791 Apple Inc. (NASDAQ:AAPL)

Point72 Hong Kong Ltd bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 110,791 shares of the iPhone maker’s stock, valued at approximately $23,335,000. Apple makes up 1.4% of Point72 Hong Kong Ltd’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV lifted its position in Apple by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 174,052 shares of the iPhone maker’s stock worth $29,846,000 after buying an additional 1,962 shares in the last quarter. Graphene Investments SAS increased its holdings in shares of Apple by 11.4% during the 1st quarter. Graphene Investments SAS now owns 54,700 shares of the iPhone maker’s stock worth $9,380,000 after purchasing an additional 5,600 shares during the period. KFG Wealth Management LLC raised its holdings in Apple by 31.3% in the 1st quarter. KFG Wealth Management LLC now owns 23,944 shares of the iPhone maker’s stock valued at $4,106,000 after acquiring an additional 5,702 shares in the last quarter. Svenska Handelsbanken AB publ bought a new position in Apple in the first quarter worth $343,000. Finally, OMNI 360 Wealth Inc. raised its position in Apple by 4.1% in the first quarter. OMNI 360 Wealth Inc. now owns 16,308 shares of the iPhone maker’s stock worth $2,796,000 after purchasing an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the 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 transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 412,746 shares of company stock worth $93,021,362. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $224.23 on Wednesday. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. 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. The company has a fifty day simple moving average of $226.72 and a two-hundred day simple moving average of $215.06.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid 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 of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Raymond James lifted their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Moffett Nathanson started coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Apple 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.